The government is hopeful of passage of the GST bill in the winter session of parliament claiming 30 of the 32 parties have supported it.
Leading automakers Maruti Suzuki, Hyundai, Mahindra, and Tata Motors saw a dip in dispatches to dealers in August amid dip in demand with many prospective buyers postponing their buys anticipating a reduction in vehicle prices on account of the new GST framework. The country's largest carmaker Maruti Suzuki India reported an 8 per cent year-on-year dip in dispatches of passenger vehicles in the domestic market last month.
The bill was passed by LS last year and now it has to go back to the Lower House for incorporating the amendments approved by Rajya Sabha.
Three laws passed in Parliament could boost central revenues, reshape GST cess flows, shift MGNREGA costs to states and create new budget headroom ahead of the 2026-2027 Union Budget, points out A K Bhattacharya.
A pickup in freight rates, rising fleet utilisation and a long-awaited replacement cycle are breathing fresh life into India's commercial vehicle (CV) market, strengthening the investment case for Tata Motors' CV arm (TMCV). Despite a broadly steady December quarter (Q3) performance, brokerages remain divided on whether the upswing is strong enough to offset margin pressures.
rediffGURU T S Khurana answers readers' personal income tax queries
InterGlobe Aviation, the operator of IndiGo, has approached the Delhi high court seeking a refund of over Rs 900 crore it claims to have paid as Customs duty on aircraft engines and parts re-imported into India after overseas repairs. The petition came up for hearing on Friday before a bench of Justices Prathiba M Singh and Shail Jain.
Aimed at creating a single tax for goods and services across the country, government on Friday introduced the long-pending GST Bill in the Lok Sabha for roll-out of the new regime from April 2016 subsuming various levies like entry tax and octroi.
Enthused by the consensus in reaching four-tiered GST tax structure, particularly the unanimity achieved with Congress-ruled states, senior government sources were confident that the Central GST and Integrated GST Bills will be passed by both the Houses.
GST rates would depend upon whether the commodity is used by a rich person or a common man
The government will find it difficult to pass the Bill without the Congress's help
FM said a Constitution Amendment Bill for introduction of GST will be passed soon.
Overall economic activity continued to hold up in November with demand conditions remaining robust, thanks to strengthening urban demand, but manufacturing and rural demand showed some signs of deceleration even as services remained strong, according to an article on the State of the Economy written by Reserve Bank of India (RBI) officials in the central bank's December bulletin.
These have to be passed in this session to meet the September 15 deadline for switching over to the new indirect tax regime, Jaitley said.
For MSMEs the transition could mean higher wage bills and tougher compliance -- unless strong handholding follows reports Auhona Mukherjee.
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
After securing Congress support for a rise in the foreign investment cap in the insurance Bill, this is another key reform Bill where the Centre has managed a broad consensus.
Passenger vehicle dispatches from companies to dealers increased 19 per cent year-on-year in November as demand remained robust post festive period, industry body SIAM said on Friday.
The revised guidelines are aimed at curbing discretionary practices by field officers, especially the tendency to seek documents not mandated under the law.
Supporters say the new sales tax will add up to two percentage points to India's economic growth
The change in the peak rate will not alter the 4-slab rate structure of 5, 12, 18 and 28 per cent agreed upon last year, but is only a provision being built into the model law to take care of contingencies in future, two officials in the know told PTI.
Passenger vehicle retail sales shot up 35 per cent year-on-year during the nine-day Navratri period this year, helping the overall registrations last month grow 6 per cent, as offtakes remained muted in the first 21 days of the month and only took off after the roll-out of new GST rates on September 22, dealer' body FADA said on Tuesday.
Modi's reform agenda suffered a major setback earlier this month when lawmakers in the Rajya Sabha refused to support the the Goods and Service Tax bill.
These losses increase insurance premiums for customers and reduce insurer margins on the other.
Government will make a fresh bid to pass crucial bills on GST and real estate in the last week of the Winter session.
Protesting Congress members had on Tuesday too blocked a debate on the bill. The monsoon session ends on Thursday.
BCCI's vice-president Rajiv Shukla said the Indian cricket team's new jersey sponsor will be finalised in the next two to three weeks.
States are apprehensive of losing their rights to raise revenue during emergencies.
The government is keen to get the GST Bill approved during the Monsoon Session of Parliament ending on August 12.
India's brittle energy security is inextricably linked to two opposing paradigms - fossil fuels, and the transition to green energy. The first powers the present; the second paves the way for Viksit Bharat in 2047.
Even as some government departments have raised concerns on the Bill in its present form, the finance ministry has decided not to delay any further and may table it in Parliament next week.
After 17 tumultuous years, a nationwide Goods and Services Tax (GST) will rollout from midnight of June 30, overhauling India's convoluted indirect taxation system and unifying the $2 trillion economy with 1.3 billion people into a single market.
The Asian markets are largely trading in the green, taking heart from a positive close on Wall Street.
'Other sectors that manage the savings pools of Indians are giving tough competition to life insurance companies.'
Following detailed questioning, journalist Mahesh Langa was arrested by the Crime Branch on Tuesday morning, Deputy Commissioner of Police (Crime) Ajit Rajian said. "The central GST had found some suspicious transactions in bogus firms floated in the name of Mahesh Langa's wife and father using forged documents. Langa has been arrested for further investigation," he said.
Select committees of the House have already submitted their reports
'An asset must generate income. Equities yield dividends, bonds pay coupons, deposits give interest, and real estate earns rent.' 'Gold, silver, and even Bitcoin produce no income, they merely store value. So, they should not be compared to productive assets.'
'They are positioned as defensive products and can potentially give marginally higher returns than liquid funds.'
Prime Minister Narendra Modi launched his Bihar assembly poll campaign, asserting that the NDA under Chief Minister Nitish Kumar will break all previous electoral records. He criticized the INDIA bloc and highlighted the NDA's cohesiveness and development efforts in Bihar.
If cashless services are suspended, AHPI said, its member hospitals will continue to treat Star Health policyholders, but patients will have to pay upfront and later seek reimbursements directly from the insurer.
