India moving in right direction on GST, says Panagariya.
The government is banking on help from regional parties and rejigged numbers in the Rajya Sabha.
Government strategists are trying to ensure that the requisite 16 of the 31 states ratify the Bill by the end of this month
'The quality of justice is directly linked to the quality of judges -- if that suffers, justice delivery suffers.'
Work has to be done on a war footing from now to implement the GST regime.
What Rajya Sabha can do for the states, no other House can do, the Prime Minister said.
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The GST Bill, introduced in Parliament in 2010, is being vetted by the Standing Committee on Finance. Now, the states and the Centre would together finalise the draft and bring it back to Parliament.
The government on Wednesday decided not to hold special session of Parliament to pass the constitution amendment bill for rolling out Goods and Services Tax and will recommend to the President to prorogue the Monsoon Session.
The panel suggested inclusion of alcohol and petroleum products in GST, as is being demanded by the Congress.
Industry experts said the major pain point would be tax collection at source, which would create a rift between sellers and e-commerce companies.
The Congress, however, said it wanted to see the final print on the wording of the dispute resolution mechanism before committing its support to the Bill
With just eight days left for the winter session, Jaitley and Parliamentary Affairs Minster M Venkaiah Naidu held consultations with Leader of Opposition in Rajya Sabha Ghulam Nabi Azad and Deputy Leader Anand Sharma.
The GST bill is stuck in the Rajya Sabha where the ruling NDA govt does not have a majority as well as stiff opposition by the Congress
Here's everything you need to know about the Goods and Services Tax Bill.
Implementation of GST is expected to increase the gross domestic product of the country.
No longer a discretion of the tax administrator, the audit of returns filed by taxpayers is now based on a selection by algorithms, notes Tarun Bajaj.
Keeping the government on tenterhooks on key reform measures like the Insurance Bill and Goods and Services Tax, the Congress party on Monday said there is "no blank cheque" on its support on these in Parliament as the "devil lies in the details".
Parliament on Thursday cleared the decks for the rollout of the historic Goods and Services Tax from July 1 as it approved four supporting legislations to usher in the one-nation-one-tax regime.
Analysts believe the GST could boost India's economic growth by up to 2 percentage points
Criticising various provisions in the proposed GST regime, Moily said it will be a "technological nightmare" and the anti-profiteering provisions in it are "far too draconian."
The GST revenues for August 2023 have shown a growth of 11 per cent year on year due to increased compliance and less evasion, Revenue secretary Sanjay Malhotra said on Friday. The collection from Goods and Services Tax (GST) was Rs 1,43,612 crore in August 2022. "Roughly numbers are in the range of 11 per cent year on year growth as in earlier months," Malhotra told reporters.
Raghuram Rajan said the passage of the GST Bill augurs well for the growing political consensus for economic reforms.
With logjam in the Upper House leaving key bills in the limbo, Rajya Sabha chairman Hamid Ansari has called an all-party meeting on Friday.
According to DBS, GST has growth, inflation and fiscal implications.
The prime minister, who spoke in the Upper House as it bid farewell to 53 retiring MPs, noted that Rajya Sabha members are representatives of the states and the interest of their state should be a priority for them.
Chartered accountant and commentator M R Venkatesh on why the GST Bill will cost the BJP dear.
Gains in auto shares helped offset losses in select index heavyweights led by Infosys.
In a string of tweets and replies, Swamy also said that GST can be implemented only if the Supreme Court clears a petition on levy of entry tax
The Madhya Pradesh government on Monday presented an alternative model of the GST but some states immediately raised objections to it.
GST is intended to create a single market and boost commerce in India's $2 trillion economy
The session will have 20 working days for now.
The Bills are primarily aimed at helping the MSME sector and small traders, Finance Minister Piyush Goyal said while introducing these in the Lok Sabha
The GST Bill, seen as single biggest tax reform in a long time, needs to be ratified by at least 15 state legislatures before the President can notify the GST Council which will decide the new tax rate and other issues
Aiyar has contended that this results in revenue loss, malpractices and even death of people consuming illicit liquor
Congress on Wednesday said that it was open for discussions on the GST Bill on which it has "very genuine concerns".
Service companies such as Infosys, Tata Consultancy Services and Airtel, among others, would be particularly hit.
The vice president met Leader of the party in Lok Sabha Mallikarjun Kharge, P Chidambaram and Deputy Leader of the party in Rajya Sabha Anand Sharma, among others and discussed various points regarding the key tax reform legislation.
'We crossed Rs 1.7 trillion in three months this financial year.'
According to Mitra, items such as foodgrain, vegetables, leather goods, footwear, cottage cheese, puffed and flattened rice, books and entertainment tax, among several others, should be in the zero-tax bracket.
Parliamentary Affairs Minister Ananth Kumar has already held telephonic talks with leader of the opposition in the Upper House Ghulam Nabi Azad.
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