It's an undeniable fact that after enactment of GST, buying insurance will become a little expensive impacting your term plans, health plans and motor insurance plans the most. But you should not ignore the importance of insuring your life, health, vehicle, says Harjot Singh Narula
Neutrality and jurisdiction in international trade need to be discussed threadbare before GST is implemented in India.
The IMG meeting will be convened shortly.
The opposition parties vehemently criticised the new 'one nation, one tax' system having four different rates instead of a single rate adopted in some countries including the UK and Singapore.
India has allocated Rs 1.72 trillion, or 27.67 per cent of the total defence budget to cater to modernisation of the country's arsenal. Modern militaries spend up to 50 to 60 per cent of their total defence budget so that they go into combat with superior weaponry and equipment.
The revenue collection in the same month a year ago stood at Rs 94,442 crore.
Restricting the input credit is not a good idea for any sector, particularly real estate which requires more formalisation.
The monsoon session of Parliament got off to a stormy start on Monday leading to adjournment of the two Houses without transacting much business following an opposition uproar over issues ranging from price rise to the Agnipath scheme.
In a string of tweets and replies, Swamy also said that GST can be implemented only if the Supreme Court clears a petition on levy of entry tax
What are the five things that need to be looked at to ensure a seamless transition to GST?
Trinamool Congress has already announced its decision to boycott the event.
Despite a steady collection rate, the government faces a steep Budget target of Rs 6.1 trillion for CGST for 2019-20.
The government is going all out to spread awareness about the new indirect tax regime, and training lawmakers is being seen as a necessary first step.
By changing the nation's name from India to Bharat, would this landmass overnight lose the emotional and cultural linkage that had been built over generations, centuries and millennia, asks N Sathiya Moorthy.
As corporate India gears up to be GST-ready, the ongoing litigation and tax dispute cases are something most businesses are cagey about.
It is fully geared up for the new tax regime and its vehicles will be available under the new prices with immediate effect.
The GST rate for the sector has not yet been finalised by the government.
GST impact: Higher lease payouts may hit airlines, cab aggregators.
'At a recent event, says Kishore Singh, almost everyone present lamented art being labelled as 'goods', and therefore the artist its 'manufacturer'.
Claiming taxes collected from the south were being distributed to north India and that the former were not getting their due share, Congress MP D K Suresh on Thursday said the southern states will be forced to demand for a separate nation if the 'injustice' was not rectified.
GST compensation law allows for imposition of cess on certain luxury goods like tobacco, high-end cars and aereated drinks to create a corpus for compensating states for any loss of revenue in the first five years
The Centre has decided to keep ayurveda products in the mid-range of the goods and services tax
Consensus seems a problem before the current session of Parliament ends.
The net direct tax collection so far this fiscal rose 19.41 per cent to Rs 14.70 lakh crore, reaching about 81 per cent of the full-year target, the income tax department said on Thursday. "The provisional figures of Direct Tax collections up to January 10, 2024, continue to register steady growth," the Central Board of Direct Taxes (CBDT) said in a statement. Direct Tax collection, net of refunds, stood at Rs 14.70 lakh crore which is 19.41 per cent higher than the net collection for the corresponding period of last year.
India appears poised to sustain its growth in a more durable way than before with the economy carrying the momentum from FY23 into the current fiscal year, the Annual Economic Review for 2022-23 released by the finance ministry on Thursday said. However, the report cautioned that escalation of geopolitical stress, enhanced volatility in global financial systems, sharp price correction in global stock markets, a high magnitude of El-Nino impact, and modest trade activity and FDI inflows, are factors that could constrain the pace of growth. "Should these developments deepen and dampen growth in the subsequent quarters, the external sector may challenge India's growth outlook for FY24," the finance ministry said.
Experts said the slowdown could be attributed to adjustments leading to destocking and the offering of discounts by companies as the government ushered in the new indirect taxation system on July 1.
Consumer products like mobile phones and laptops may become cheaper as the overall taxes on goods are likely to come down
Bihar became the first non-NDA state and overall second after the BJP-ruled Assam to pass GST bill.
Banking services, insurance premium and investment management are likely to cost more.
Assembly elections coming up in November and December could offer a window of opportunity to the government to make GST attractive through rate cuts.
"GST should not become a 'grossly scary tax'. It should be a 'good and simple tax'," Surjewala said.
Banks have been demanding a single centralised registration system, like at present, as they feel multiple registrations would create procedural and compliance problems.
Apprehensions following the imposition of GST on sports equipment has forced the National Rifle Association of India (NRAI) to 'approach' the finance ministry and take up the cudgels on behalf of a very concerned shooting community.
The Centre is against giving any shock in the first year of the rollout by bringing in new services.
What is to be done to resist the twin thrusts of the BJP's ideology, majoritarian and a strong centripetal instinct against federalism? asks Aakar Patel.
Fridge, washing machine, and paint makers are expected to cut prices shortly, while TV, aircon, and sanitary napkin makers are a disappointed lot
Prime Minister Narendra Modi addressed the nation at the Central Hall of Parliament ahead of the GST launch at midnight. Here are highlights from the PM's speech
Try to assess whether the broker has good knowledge of the prices prevailing in the area you are interested in, and is able to provide the pros and cons of various projects.
Reform ideas do not occur overnight and evolve over the years.
Jaitley further said the country would eventually move to a two-tier GST, however, this depends on the revenue position of the government.
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