State governments have requested the Centre for export incentives, lifting of import duty in the case of cotton for the textile sector and GST exemptions.
Neutrality and jurisdiction in international trade need to be discussed threadbare before GST is implemented in India.
GST collections in March slipped below the psychological Rs 1 lakh crore-mark for the first time in four months to Rs 97,597 crore as the Covid-19 lockdown that shut most businesses compounded tax collection woes in an already sluggish economy. Goods and Services Tax (GST) mop-up in March recorded a 8.4 per cent decline over March 2019 collection of Rs 1.06 lakh crore. The collections were lower on account of dip in revenues from domestic transactions as well as imports.
Consensus seems a problem before the current session of Parliament ends.
The very design of the GST will bring in revenue buoyancy.
'I expect a demand stimulus in the Budget. 'There has been such a shock to the economy that such a stimulus would be needed.'
The government clarified that the majority of industrial establishments had reported nil production, and cautioned that the numbers should not be compared with those of previous months. "It is not appropriate to compare the IIP of April 2020 with that of earlier months, and users may like to observe the changes in the IIP in the following months," said the ministry of statistics & programme implementation.
Muzammil Patel and Rahul Murthi will answer all your start-up queries.
'The domestic scenario is much better than earlier, demonstrated in the March quarter earnings.'
The Budget sets out a comprehensive vision.
Experts hail Budget 2015 as a progressive, growth oriented one.
Finance minister tries to put house in order before reforms are unveiled in February.
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