India's existing web of federal and state sales taxes is levied at different stages of the supply chain and often results in double taxation, while forcing trucks to spend nearly a quarter of their road time in border checks or other inspections.
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.
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.
Years of wait before DTC, GST are rolled out
Chaos in Parliament threw a spanner in the government's efforts to revive the economy and kick-start reforms.
Jaitley remained steadfast in not caving in to sustained Opposition pressure.
Following the address by President Ram Nath Kovind, the economic survey will be tabled in the two Houses.
Abolition of CST will pave the way for an integrated Goods and Services Tax (GST) which will be introduced by April 1, 2010, Finance Minister P Chidambaram said.
States also demanded that Budget for 2015-16 should make adequate provisions for central sales tax compensation for early roll out of Goods and Services Tax, a Constitutional Amendment Bill for which was tabled in the Lok Sabha last week.
'The revenue projection arises out of all sectors doing well and the formalisation of the economy helps in making sure the tax domain gets widened.'
Markets closed in the red on domestic worries.
Jaitley keen to uplift the insurance sector.
The FM has been making efforts to make the taxation laws simpler.
Prime Minister Narendra Modi was elected last year on hopes he would revive a languishing economy.
The government said it is open to debating the JNU row in Parliament during the upcoming budget session starting February 23 with Modi saying that it will address the concerns raised by the opposition.
The ruling party has indicated willingness to discuss opposition-sponsored motions on 'intolerance'; Jaitley has also shown willingness to accommodate concerns on GST
Indications of a stormy start to the Budget session emerged at an all-party meeting with opposition accusing the government of "setting the agenda for disruption".
Govt is mulling a special session to amend the constitution to enable a national goods and services tax. Kavita Chowdhury answers a few FAQs on the complexities
The PM didn't hold back and launched a scathing attack against the Congress. Here are the highlights from his speech.
The announcement came after the chief minister held a high level meeting with senior government officials on Thursday to discuss the implementation of both schemes, which are part of five poll guarantees of the Congress.
With a growing penetration of the Internet, which reaches to rural areas of the country, the retailers would be able to deepen their market
An audit conducted by professional services firm Alvarez and Marsal confirms fintech firm's dealings with fake or non-existent vendors.
Arun Jaitley said he would put the DTC Bill in cold storage.
Finance Minister Arun Jaitley to discuss state-level issues before finalising GST.
Asserting that the government has launched a "crusade" against corruption and black money by demonetisation, Prime Minister Narendra Modi on Tuesday sought opposition's cooperation while his rivals called the decision ill-prepared and hasty, causing "economic chaos".
Congress leader Rahul Gandhi on Tuesday made a scathing attack on the Narendra Modi government, accusing it of working only for the sake of capitalists.
The winter session of Parliament beginning on Thursday is expected to be a stormy affair, with the opposition set to raise the 'intolerance' issue.
Two bills which seek to scrap a total of 1053 Acts are pending the Rajya Sabha since the budget session.
'Right to apprenticeship means that anyone below the age of 25 years with a diploma or other qualifications can demand an apprenticeship with a private, a public sector company or a government organisation. And when he/she demands this, it is the obligation of the government to provide it.'
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
On Wednesday, the rupee had dropped by 26 paise.
Vivek Johri, the Chairman of Central Board of Indirect Taxes and Customs (CBIC) on Friday said that the cash recovery of approximately Rs 150 crore from searches in Kanpur at several locations related to Trimurti Fragrance is the 'biggest haul ever'.
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.
Without naming the Congress, he said the frustration of a party, which ruled for four generations, was at the root of this politics of opposition for opposition's sake.
BharatPe co-founder Ashneer Grover and his wife Madhuri Jain were stopped at the Delhi international airport following a look out circular issued against them in the alleged fraud at the fintech firm, sources said. The couple were to travel to New York late on Thursday for vacation when they were stopped at the airport on the basis of a look out circular issued by the Economic Offences Wing (EoW) of the Delhi police. EoW is investigating complaints of payments being made at BharatPe to fake human resource consultancies allegedly operated by Grover and family. They have also been accused of backdating invoices to use funds.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
The government on Tuesday raised the deposit threshold limit to Rs 5 lakh per annum in provident fund for which interest would continue to be tax-exempt.
The US dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was sharply higher by 0.62 per cent at 93.96.
'Day by day, the queues will shorten.'
There was a "broad agreement" on five issues over which the 18 parties will target the government
