'If the NDA comes to power with 320-330 plus seats, then we could see some correction. We could possibly see a level of 19,500 to 20,000.' 'If the NDA comes to power with a majority of 400-plus, we could see the markets going to about 23,500-24,000 levels.' 'And from there we could see some correction because markets are expensive at this point of time and a correction is overdue.'
The GST Bill, seen as single biggest tax reform in a long time, needs to be ratified by at least 15 state legislatures before the President can notify the GST Council which will decide the new tax rate and other issues
Parliament on Thursday cleared the decks for the rollout of the historic Goods and Services Tax from July 1 as it approved four supporting legislations to usher in the one-nation-one-tax regime.
He, however, acknowledged that manufacturing states will suffer losses but said they will be compensated
The Deutsche report said though India must move to a GST regime, the transition is likely to be disruptive for large sections of the economy and SMEs
The GST bill's draft says tax would be levied on Maximum Retail Price
The fiscal gains from implementing the GST and demonetisation, while almost certain to occur, will probably take time to be fully realised
GST was 'flawed' and had unleashed a 'tsunami of tax terrorism', he said.
The states which achieved "extraordinary growth" in total taxes collected include Kerala (44 per cent), Jharkhand (20 per cent), Rajasthan (14 per cent), Uttarakhand (13 per cent) and Maharashtra (11 per cent), an official statement said.
India, along with Southeast Asian countries such as Indonesia, is expected to sustain growth in the medium-term in Asia region, replacing China as the key growth driver, Morgan Stanley and Nomura said in two separate reports released on Monday. While Morgan Stanley projected a 6.2 per cent gross domestic product (GDP) growth forecast for India in FY24, Nomura estimated the Indian economy to grow at 5.9 per cent in 2023. "Even with a slowing China, we expect GDP growth in Asia to sustainably outperform other emerging markets and the US. India and Southeast Asia are set to be the fastest-growing economies this decade.
From anti-profiteering to affixing stickers on existing stocks, FMCG companies are bracing for new set of GST challenges
The GST Council on Saturday is expected to extend the date for IGST exemption and cess on imports
Macroeconomic data announcements, global trends and trading activity of foreign investors would guide momentum in the equity market this week, analysts said. Markets ended a five-week losing streak and gained nearly a per cent last week, helped by a sharp rebound on Friday. Last week, the BSE benchmark jumped 500.65 points or 0.77 per cent and the Nifty gained 169.5 points or 0.87 per cent.
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
All goods and services have been put in slabs of 5%, 12%, 18% and 28%
GST reform has been hanging fire since 2006-07.
The GST Council is scheduled to meet next on November 10 and may consider lowering tax rates on a host of goods such as handmade furniture, plastic products and daily use items like shampoo.
With the implementation of the goods and services tax less than 75 days away -- assuming July 1 as the roll-out date -- Sudipto Dey provides a guide to how businesses can navigate the transition.
A slew of challenges that are yet to be resolved include the lack of consensus between the Centre and states over the GST exemption threshold limit, dual control over scrutiny and assessment
Rahul Gandhi, who is scheduled to again visit poll-bound Gujarat from Saturday, said the government can't break the back of small and medium businesses, crush the informal sector and destroy millions of jobs.
BSE Auto index fell over 0.5% after reports that automobiles might get costlier post GST
'These provisions may even be seen to be a threat to burgeoning businesses, since they would view every announcement of a rate cut as a starter's pistol that triggers a long race to adjust prices and to justify the adjustment,' argue Rashmi Deshpande and Anjali Krishnan.
Rationalisation of rates will be taken up for smaller items that do not have major revenue implications but are commonly consumed at the GST Council meet on Saturday
As and when the GST comes in, Budget projections will have to be unbundled and revised. In fact, the pragmatic decision would be to present another Budget! This makes the passage of the Finance Bill with its multiple unrelated amendments seem even more dubious, says Devangshu Datta.
Among the Sensex firms, Asian Paints, Tata Steel, HCL Technologies, Nestle, Maruti, JSW Steel, NTPC and Larsen & Toubro were the major laggards. Sun Pharma, Bajaj Finserv, Reliance Industries, State Bank of India and Bharti Airtel were the gainers.
The finance minister said the government was open to suggestions.
States' demand of compensation from Centre for loss of tax revenue not on agenda.
GST would make compliance easier for big businesses, but hurt small scale industries., says SJM
Once implemented, customers making payments using Rupay card or BHIM UPI will get a cashback of 20 per cent of the total GST amount, subject to a maximum of Rs 100.
Early GST rollout to help create more jobs, boost output, says IMF.
For the government to meet its GST roll-out deadline of April 1, 2017, the states will have to ratify the Bill before Parliament's winter session, starting November.
It has hiked prices of diesel variants of Ciaz and Ertiga models with smart hybrid technology
Precious ornaments are estimated to become 3% costlier under GST
Net profit at M&M and Mahindra Vehicle Manufacturing Ltd contracted to Rs 918 crore from Rs 1,238 crore a year ago while revenue and other income decreased to Rs 12,997 crore from Rs 13,551 crore a year ago.
Sun Pharma emerged as the biggest gainer from the Sensex pack, climbing 2.09 per cent, followed by ITC, Titan, Bajaj Finance, Nestle, Infosys, L&T, JSW Steel, Reliance Industries and Kotak Mahindra Bank. UltraTech Cement, Maruti, HDFC Bank, Wipro, State Bank of India and NTPC were among the laggards.
'Who has given how much money to which party, the people of India must know this fact.'
FMCG, durables, pharma firms say they remain unclear about transition gains and losses
Though FDI inflow has been on the rise in the past three years, it is mostly on account of services
There is mutual invoice matching which ensures reason why GST was brought in first place, says Adhia.
Under the GST regime, most manufactured goods will turn cheaper.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances