The 0.5 per cent Krishi Kalyan Cess (KKC) on all services increases the total tax chargeable on services to 15 per cent, making it expensive to dine out or travel.
Mercedes-Benz India, BMW India and Audi India have lined up over 50 new model launches as they seek to recoup previous year's loss in volumes, reports Shally Seth Mohile.
With the objective of making India a manufacturing hub for domestic and foreign companies, Prime Minister Narendra Modi on Thursday launched the 'Make in India' initiative.
Ways on how consumers can maximise benefits.
Indian economy about to take-off
The GST Network's chairman Navin Kumar speaks to Dilasha Seth and Indivjal Dhasmana on various aspects of the new tax regime.
Reliance Industries on Friday reported more than doubling of its March quarter net profit to Rs 13,227 crore as improvement in petrochemical and consumer business countered continued weakness in refining business.
The transformational reforms like GST, Bankruptcy Code and recapitalisation of banks, Black Money Act, demonetisation, flexible inflation targeting and adoption of fiscal discipline (FRBMA), etc, have temporarily and purposefully pulled us back only to propel us forward with greater velocity, Rajiv Memani.
The government on Tuesday extended the deadline for filing income tax and GST returns, raised the threshold of default that could trigger insolvency of a company, and waived charges on cash withdrawals from ATMs of other banks as a precursor to a broader stimulus package for the economy distressed by the coronavirus outbreak.
While Maruti leads with 30% volume growth, Hyundai sold 18,337 vehicles in rural markets during April-June
Even after filing your income tax return online, your job won't still be over! Here is a six-point checklist for taxpayers to be observed after e-filing of ITR.
The economy is growing at 7.5-8 per cent, the finance minister said.
The services sector, which plays the biggest role in shaping the economy, is facing loads of issues currently. The largest segments, financial and real estate, are struggling to cope with bad debts and low demand for houses.
All credit to the finance minister for walking the fiscal and expectation tightrope extremely well in his budget speech, says Ganesh Natarajan.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
R Vignesh is a member of the Institute of Cost and Management Accountants of India in Chennai, appeared on Rediff Chat to answer readers' queries on GST.
Shares of HCL Tech hit a fresh record high of Rs 1,118.55 on Friday, up 2 per cent on the BSE in intra-day trade, surpassing its previous high of Rs 1,101 touched on Thursday in intra-day deals.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
Even the well heeled in metros find it difficult to go completely digital. Cash withdrawals from ATMs are back at the same level as they were before demonetisation
'There is something fundamentally wrong with the GST -- whether be it the rates, compliance, or the GST Network itself.'
Asserting that the self reliant India programme will help revive the global economy, Prime Minister Narendra Modi on Thursday told global business community that his government aims to transform the country through access, inclusion and empowerment while also ensuring complete data security. Addressing the World Economic Forum's online Davos Agenda Summit, where he also interacted with global business leaders, Modi also said India offers a predictable and friendly environment from tax regime to FDI norms. He said Aatmanirbhar Bharat movement is committed to global good and global supply chain while the country's digital profile has been completely transformed.
The country's gross domestic product (GDP) is likely to grow more than 9.5 per cent in fiscal 2021-22, an SBI research report-Ecowrap said. The economy grew at 8.4 per cent in the second quarter of the current fiscal, according to data released by the National Statistical Office (NSO) on Tuesday. The growth in the April-June quarter of this fiscal stood at 20.1 per cent. In October's monetary policy review, the Reserve Bank of India had retained its projection for real GDP growth at 9.5 per cent in 2021-22, consisting of 7.9 per cent in Q2; 6.8 per cent in Q3; and 6.1 per cent in Q4 of 2021-22.
The ministry of electronics and information technology is working on creating a software product council, including members from the government, academia and industry that will work on implementing a software products mission.
'So far, the government has sanctioned more than Rs 300 billion as GST refunds,' Ansh Bhargava and Aditya Singhania point out.
A strong supporter of the new tax regime, Adi Godrej tells Viveat Susan Pinto the second half of FY18 will be even better for consumer goods companies as challenges abate.
Ad spends to revive in 2018; India likely to add Rs 47,028 crore in the next five years
Slight recovery in growth is expected only in July-September.
A 15 per cent corporate tax rate for services companies in SEZs, setting up a fund for deep-tech startups and establishing clusters to demonstrate design-to-manufacturing capabilities of tech firms were some of the key demands made by the IT sector at the pre-Budget consultation on Monday. The participants shared their views and suggestions regarding Big Data, incentives for encouraging setting up of data centres, fiscal incentives for data localisation, incentives for pushing digital penetration in rural areas, and corporate guarantee to startups for competing with other nations.
Two years of the NDA government have instituted significant reforms, including the passing of the GST bill in India but "cultural issues and saffronisation" have resulted in a slow incremental change instead of big bang reforms, according to a top American think-tank.
Investor wealth zoomed over Rs 10.48 lakh crore in two days as the Budget-driven market euphoria continued to charge bulls on Tuesday.
The BS-VI norms are expected to increase the price of two-wheelers by 10-14 per cent.
Global consultancy firm PwC India on Wednesday said it will invest up to Rs 1,600 crore and create additional 10,000 jobs in the next five years. Announcing its new business strategy 'The New Equation', PwC India said the firm will also increase its campus hiring by over five times in the same time period. The New Equation is based on analysis of trends and thousands of conversations with clients and stakeholders, it said in a release.
'You have to tear it all down if you want to build something new tomorrow.'
Nikunj Saraf, Vice President Choice Wealth, answers your mutual fund queries.
With the world's worst outbreak of COVID pandemic stalling a nascent economic recovery, the government has begun assessing the impact of the second wave of infections on different sectors and may look at providing support at an appropriate time to segments requiring fiscal help. Some of the economic indicators, including the Goods and Services Tax (GST) collections, still provide confidence and incoming data will throw some more light on the state of the economy, sources said. Services sectors like hospitality, tourism and aviation which had just started recovering were hit hard by the second wave of COVID, the sources said, adding these segments might need some support on an urgent basis from the government.
Netmed plans to procure from drug manufacturers and sell to pharmacies it has tie-ups with, and to spread its network to all tier-II and tier-III cities.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Jaitley increased the excise duty on most tobacco products by 10-15 per cent.
The prime minister sought to allay slowdown concerns saying the fundamentals of the economy are strong, with low inflation and a potential to boost exports.
The panel decided to omit the reverse charge mechanism (RCM) clause from the GST law under which registered taxpayers buying from unregistered taxpayers have to deposit the GST.
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