States' demand of compensation from Centre for loss of tax revenue not on agenda.
There is much work to be done to design a good GST.
The Centre and states are likely to settle for this threshold.
They are evaluating realignment of warehouses and supply chains, besides exploring locations to set up hubs and shutting down some distribution centres
Sentiments in global markets, movement of rupee against the dollar and crude oil prices will dictate near-term trend
Simplifying the processes will lead to greater efficiencies. Bad processes will not help even if implemented well, says T N C Rajagopalan
'Sin tax' is a globally prevalent practice under which products like alcohol and tobacco attract higher rates of tax.
Speaking at the all-party meeting called by the government, Modi said, "People have great expectations and that is why Parliament should function and be productive."
Fiscal federalism should not be sacrificed at the altar of GST.
As freebies/gift vouchers attract GST, retailers are opting for straight discounts this festive season.
Sensex in green, JSW climbs higher.
Addressing public rallies at Barnala chowk and Bhawanigarh in Sangrur, the chief minister vowed to do whatever it takes to protect the farmers and the state from the 'devastating' effects of the 'black laws'.
If the new regime is introduced in 2017, the govt may lose out on cess, surcharge
At a press conference after a meeting of the party's senior leaders, K C Venugopal said the Congress will also launch a massive signature campaign in which it aims to collect two crore signatures from farmers and the poor people against farm bills.
The rupee fell to a two-year low of 64.84 against the US dollar.
Some of the players in the GST race are Payworld, Dell, Tally Solutions
"This is completely untrue. Please do not re-circulate such message without checking it with authority," Adhia said.
'GST is imperative for India's success.' 'Without GST India will be a less competitive country.'
Officers from various departments including the finance ministry to be part of rehearsal event
The transition to a single, nationwide tax on goods and services will streamline business and boost the economy by tearing down barriers between 31 states and union territories.
Income tax collection, by way of advance tax and TDS, in the April-June quarter was about 80 per cent of what was collected in the same period last year.
Party justifies total washout of day's proceedings in Rajya Sabha, citing Dalit atrocity, insult to Congress CMs and the GST bill.
The monsoon session of Parliament got off to a stormy start on Monday leading to adjournment of the two Houses without transacting much business following an opposition uproar over issues ranging from price rise to the Agnipath scheme.
Under the Goods and Services Tax, effective midnight of June 30, most of the financial services would attract a higher tax of 18 per cent as against 15 per cent as of now.
Despite the objections raised by Reserve Bank of India and Election Commission, India's politics has been funded anonymously and it is time to end this, asserts Aakar Patel.
Companies are worried that any staggered roll-out of GST could result in cash flow issues with businesses not able claim tax credit due to breakage in the chain
The confidence that GST Network is capable of handling the returns, payments, reconciliation, refunds, etc., has been badly shaken.
With recent rate cuts, November collections could be even less
The implementation of the GST will indeed be a landmark reform.
They will hold discussions on the requirement of a constitution amendment bill for rolling out the proposed GST, which is all set to miss even the revised deadline of April one, 2011.
The government has notified mandatory requirement of e-invoicing for B2B transactions for businesses with a turnover over Rs 100 crore with effect from January 1, 2021. Under Goods and Services Tax (GST) law, e-invoicing for business-to-business (B2B) transactions is mandatory for companies with turnover of over Rs 500 crore from October 1. In a notification, the Central Board of Indirect Taxes and Customs (CBIC) said e-invoicing will be extended to businesses with a turnover over Rs 100 crore from January 1.
There are a number of steps taken that will leave more money in the hands of the taxpayers.
These include the reduction in tax rates under the new tax regime, increase in standard deduction, allowing tax collected at source to be adjusted against tax deducted at source from salaries, notes Harsh Roongta.
The GST has been a great achievement, but it does suffer from weaknesses, says Chief Economic Adviser Arvind Subramanian.
'At present, hybrids emit lesser carbon despite using fuel than pure play electric cars.' 'That is because EVs have to be charged and 76 per cent of the country's electricity is still coal-based and not renewables.'
His interaction was webcast live on Twitter.
The Modi government could steer through Parliament 59 out of 75 Bills.
Its passage in the Lok Sabha is all but certain due to the massive majority the Bharatiya Janata Party and its allies have, and the Union government is confident of its passage in the Rajya Sabha as well with the support of several non-aligned regional parties which have often joined the treasury benches in the past.
With Tamil Nadu's economy getting increasingly debt-ridden with each passing budget, any concession to the Centre on the tax front, the state government has argued, would only help forgotten 'minor parties' to start hoping of a revival, says N Sathiya Moorthy.
The challenges before the government, he said, is to put public sector banks back on track and continue to operationalise stalled infrastructure projects
The progress of the GST Bill in Parliament is also likely to remain in focus
