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.
He also pointed out that the home ministry was neither consulted, nor did it give the necessary security clearance
The council, headed by Finance Minister Arun Jaitley, will meet again on December 11 and 12 to hammer out the differences.
Arun Jaitley on Friday said he would defer the move.
Good monsoon, farm loan waiver -- the two key reasons behind more customers in jewellery shops
"This rationalisation is 3-4 month exercise," he said, adding that the GST Council decided on the rate cut on the recommendation of a Fitment Committee.
The government of India holds 24.5 per cent stake in GSTN while states together hold another 24.5 per cent
A total of 16 bills, including the GST Bill, Lokpal (Amendment) Bill, Factories (Amendment) Bill and the Anti-Hijacking Bill are pending in Parliament -- five in Lok Sabha and 11 in the Rajya Sabha.
The progress of the GST Bill in Parliament is also likely to remain in focus
A 7:2 majority verdict by the apex court ruled that the tax legislation by the state does not require the consent of the President under Article 304 B of the Constitution
In a first, Opposition-ruled states on Saturday got the Centre to delete from the records three minutes of the last GST Council meeting that provided for tweaking of agreed criteria for division of taxpayers under the Goods and Service Tax regime.
Goods like chocolates, chewing gum, shampoo, deodorant, shoe polish, detergents, nutrition drinks and marble will now attract 18% GST>
It's difficult to understand if GDP growth has actually improved.
The average rating was seven out of 10.
Prime Minister Narendra Modi on Thursday asked his Council of Ministers to make extra efforts for effective implementation of public welfare schemes at the ground level and work on new ideas in their ministries ahead of the budget.
Preparing legal framework to protect states from revenue loss.
The mandate will help further the development agenda in these states, with good governance and policy reforms taking centrestage
The Congress filed a dissent note on eight provisions.
Lok Sabha passed the Finance Bill, after approving more than two dozen official amendments, by voice vote, thus completing the Budgetary exercise for 2019-20 in the Lower House.
For any proposal to be cleared, it has to get 75% of the vote.
Congress is opposing the GST bill in the current form.
Private lenders were among the top losers along with RIL.
Sensex rises, snapping two-session losing streak; banks, auto gain.
Nifty is likely to remain under selling pressure unless and until it breach the 7,700-7,720 levels on closing basis.
The session of Rajya Sabha came to an end on Friday after passing 12 bills and wasting 19 hours due to disruptions over various issues like imposition of President's rule in Uttarakhand and AgustaWestland helicopter deal controversy.
The Congress on Wednesday dismissed as "totally baseless" and "mischievous" reports that it had offered a deal to government under which it was ready to support passage of GST bill in Parliament if it axed External Affairs Minister Sushma Swaraj and Rajasthan Chief Minister Vasundhara Raje in the wake of the Lalitgate controversy.
market rally, especially in mid-caps, has also been driven by a pick-up in the monsoon and the government's resolve to get the goods and services tax (GST) Bill cleared in the recent session of Parliament.
An audit conducted by professional services firm Alvarez and Marsal confirms fintech firm's dealings with fake or non-existent vendors.
A moderate GST rate obviates the need for the two-rate structure.
There has been a lot of concern in the FMCG industry after Patanjali's revenues crossed Rs 5,000 crore, on the back of an increased focus on health following the ban on Maggi noodles.
The current draft of the Goods and Services Tax could kill any hope of economic revival - and you should blame the Congress if it rolls over and lets it pass, says Mihir S Sharma.
The government on Friday lowered its economic growth forecast.
The Bills pertaining to the introduction of a new law and amendment to the Constitution will not be tabled in the coming Budget session of Parliament. finance minister Pranab Mukherjee and state finance ministers will meet in April to decide a new date for the GST rollout.
Finance Minister Arun Jaitley on Friday tabled the pre-Budget Economic Survey in the Lok Sabha.
Maharashtra Chief Minister Eknath Shinde and the rebel Shiv Sena MLAs who had camped at a Guwahati luxury hotel for eight days have cleared their bills before they checked out on Wednesday, a hotel official said.
In the face of tax blow, brokerages remain sanguine about the prospects of asset management companies (AMCs). A sharp correction in the shares of AMCs over the past three months factors in most of the negatives and turned valuations attractive, observe analysts. In its latest report, Kotak Institutional Equities (KIE) has upgraded HDFC AMC to 'add' (from 'reduce') and reprised 'add' and 'buy' ratings on the rest of the listed AMCs - Nippon, UTI, and Aditya Birla Sun Life.
Sources said that the ministers were unanimous in seeking a robust counter to the campaign of the Congress which has attributed political motive behind the case.
Swatting away Prime Minister Narendra Modi's statement suggesting that the opposition must not paralyse Parliament based on their 'whims and fancies', Congress chief Sonia Gandhi said on Friday that he could say whatever he wanted, hinting at no signs of backing down.
Following the address by President Ram Nath Kovind, the economic survey will be tabled in the two Houses.
The government now ends its mandate with reaffirmation in the vote-on-account of the same goals, for which it claims to have a clear line of sight.
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