To propel demand, one should concentrate on indirect taxes and bring down the goods and services tax (GST) rates to a uniform 12 per cent as the Vijay Kelkar panel had recommended, said Ajit Ranade, chief economist at Aditya Birla Group.
While the government has not made the report public, sources said the panel had recommended a sharp cut in all taxes on the gold business, including import duty and goods and services tax which amounts to over 13%.
Hindi film industry hopes to get some tax relief from the upcoming Budget 2015-16.
Businesses are still taking time to adjust in the new tax regime, which would weigh on growth rates for the financial year closing today.
This is good news for the central government at a time when crude oil prices are rising.
'The BJP certainly has an edge as the BJP has gone ahead of the Congress in pleasing the trading community.'
Govt could cut the GST rate payable every time someone buys a health insurance product; or it could also provide a larger income tax set off for those who buy a health insurance product
The theatres will start functioning from Friday with the ticket prices set to go up from the present maximum of Rs 120 with the addition of 28 per cent of Goods and Services Tax.
They were participating in a debate on the bill for giving effect to various compliance relief measures for taxpayers, including extending time limits for filing returns, in the wake of the coronavirus crisis and tax benefits for donations to PM CARES Fund.
India's tennis players -- both current and former -- are not just counting financial losses as they cope with the fallout of the coronavirus pandemic. The closure of the Pro Tour means that doubles exponent Purav Raja is set to lose at least $50,000 in this lockdown period, according to his own assessment. Prajnesh Gunneswaran, Jeevan Nedunchezhiyan and Divij Sharan can't exactly tell how much they would lose but considering the fact that they are consistently in contention to be in Grand Slam main draws, the massive financial hit is not difficult to assess.
Official sources say that the finance ministry is aware of the possible spike in smuggling activity and has already asked intelligence agencies to tighten their vigilance and come down on the unofficial entry of gold into India.
The government has provided a long-term vision.
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The Direct Taxes Code bill was introduced in Lok Sabha in 2010 and Standing Committee on Finance has given a report after its scrutiny.
Party justifies total washout of day's proceedings in Rajya Sabha, citing Dalit atrocity, insult to Congress CMs and the GST bill.
He alleged that the people of Madhya Pradesh were 'befooled' by the saffron party as there was no council of ministers or a health or home minister in place in the state amid the crisis due to the coronavirus outbreak.
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
The sector employs around 1 million skilled and unskilled workers directly and indirectly and decline in exports is a major worry for participants in the value chain.
The proceedings of the House were almost washed out as it could not take up any legislative business.
From opposing the NPR and NRC to demanding special status for Bihar to staying out of the Union Cabinet on principle to showing the BJP who was boss in Bihar, Nitish Kumar has wasted no opportunity at cocking a snook at the BJP leadership. But how long can he continue, asks Gopal Krishna.
India is the second largest buyer of Iranian crude, after China.
The mandate will help further the development agenda in these states, with good governance and policy reforms taking centrestage
It was not immediately known if Modi acceded to Jaitley's request.
As the liquidity crunch reaches crisis levels and getting tax refunds remain a big headache, exporters saw orders fall by 15 per cent till October.
De-scaling of businesses, job losses and subsequent impact on disposable incomes has created negative sentiment among traders, business owners and workers alike, says Abhishek Waghmare.
Going ahead, the likely implementation of the goods and services tax bill in July and how the monsoons play out will have a bearing on India's demand for gold and gold jewellery
'We are going to have a recession this year, maybe next year too...'
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
The industry alleges the government has been apathetic, despite their pleas for quick action. However, H2 may be different as The US-China trade war had opened a window for Indian exporters to ship more to America.
Mandatory hallmarking of gold would be a positive in making the gold market more organised. Mandatory hallmarking would come into effect from January 15, 2020, with a one-year transition period for trade to sell existing inventories. Experts also expect more policy measures next year to bring in more transparency in terms of gold as an asset class.
Modi said that the Rajya Sabha gives an opportunity to those away from electoral politics to contribute to the country and its development.
Jewelers also want import duty on gold to be reduced from the current 10 per cent to at least 5 per cent.
The Hindutva social media continues to present the DMK especially as anti-god, anti-Hindu and anti-Brahmin. The strategy did not work in the past, it has not worked in the present, and would not work in the future, as a massive vote-getter, asserts N Sathiya Moorthy.
Jaitley said India needed to grow by additional 1-1.5%.
Indications are that Modi will have words of encouragement for Stalin, and the meeting is likely to be much less acrimonious than critics of either would want it to be. notes N Sathiya Moorthy.
In an interview with Rediff.com Puducherry CM spoke about his plans for the state, Rahul Gandhi and his daily friction with the lieutenant governor.
'The macro-economic stresses -- high interest rates, rupee depreciation and capital flows -- have receded now.' 'Interest rates have come down, inflation is down and the rupee has bounced back.' 'If oil prices continue at this level, there will be no vulnerability.' 'Growth is a different story.'
Particularly hit has been the apparel sector, where the time taken by the industry to adjust to the Goods and Services Tax regime, downward revision of export incentives, and a credit squeeze faced by small and medium scale enterprises, has pushed production downwards.
Roland Folger has told the ministries concerned that they are cutting India off from the rest of the world by making it a highly protected market, the Mercedes Benz India CEO & MD tells Ajay Modi.
The government has already embarked on strengthening the tax net by sending letters to those who have not filed tax returns.
'Modi has given India its 'lost half-decade'. Elect him again and by 2024 it will be a lost decade'
