The vice president met Leader of the party in Lok Sabha Mallikarjun Kharge, P Chidambaram and Deputy Leader of the party in Rajya Sabha Anand Sharma, among others and discussed various points regarding the key tax reform legislation.
The consensus was reached after the Centre agreed to the demand of states to go in for horizontal split
Revenue buoyancy of GST will be key to improve the resource position of both central and state governments.
Once the GST is passed, the centre and states will have to adopt their own law.
GST stabilisation, DTC implementation and banking reforms are crucial for sustaining high growth for a long period, says Rashesh Shah.
Cong leaders speak in two voices but final stand may be decided at a meeting headed by Rahul Gandhi next week
BJP workers depend on Annamalai's popularity to emerge victorious. He has has made 100 promises to be fulfilled in 500 days and assurances include cleaning up rivers, an international airport and food vans named after former Chief Minister K Kamaraj.
The year 2018 is likely to be steady in terms of institutional investment into real estate
India is facing no risk of recession or stagflation as macroeconomic fundamentals of the economy are strong, Finance Minister Nirmala Sitharaman said on Monday. Replying to a debate on price rise in the Lok Sabha, she said the GST collection and Purchasing Managers' Index (PMI) are indicating that the Indian economy is getting more robust. The GST collection rose 28 per cent to touch the second-highest level of Rs 1.49 lakh crore in July. GST, introduced in July 2017, touched a record high of Rs 1.68 lakh crore in April 2022.
'It is necessary to have a person at the top who can make strict decisions without hesitation. Modiji has done that.'
The government plans to implement the single rate GST, which would subsume central excise, service tax and other local levies, from April 1, 2016
GSTN is planning a disaster recovery drill and hence services will not be available for 12 hours, between 9am and 9pm, on July 1, and has requested the taxpayers to plan GST-related activities on the portal accordingly.
The Opposition said that the government was 'bull-dozing'.
The Union Cabinet on Thursday approved a revision in the formula for pricing of natural gas and imposed cap or ceiling price to help cut CNG and piped cooking gas prices by up to 10 per cent. Natural gas produced from legacy or old fields, known as APM gas, will now be indexed to the price of imported crude oil instead of benchmarking it to gas prices in four surplus nations such as the US, Canada and Russia, Union I&B Miniser Anurag Thakur told reporters after a meeting of the Cabinet. APM gas will be priced at 10 per cent of the price of basket of crude oil that India imports (Indian basket of crude oil).
Policies have focused on promoting manufacturing, says minister, for income and job purposes.
However, India is likely to regain the tag of the fastest growth emerging economies of the world in 2018.
"After the meeting which took place in Srinagar last week, it is safe to say that GST will be levied across the country starting July 1," Gangwar told ANI.
The Centre and states are likely to settle for this threshold.
Two sub-committees, set up by the government to resolve the issues of compensation to states for revenue loss on account of a reduction in central sales tax and the final design of GST, are also likely to miss the December 31 deadline.
Accusing the Congress of creating obstacles in the path of growth and economy, he declared that the government would try to get the bill passed with the help of parties
As per norms, the returns have to be filed online on www.aces.gov.in.
The economic activities that registered growth of over 6 per cent in the second quarter are manufacturing, electricity, gas, water supply, other utility services and trade, hotels, transport and communication, and services related to broadcasting.
Govt looking for common ground on GST; hopes to pass it soon.
We have to wait and see whether Jaitley's Budget speech translates into actions and desired outcomes, says T N C Rajagopalan.
The GST has been a great achievement, but it does suffer from weaknesses, says Chief Economic Adviser Arvind Subramanian.
The IMG meeting will be convened shortly.
Stalin, moving the resolution, said without giving any reasons, Ravi had returned the Bills, mentioning "I withhold Assent" to them.
According to the draft, in the northeastern states the threshold is at Rs 500,000.
The Auto Component Manufacturers Association of India on Wednesday sought reduction in GST rate to a uniform level of 18 per cent for the entire automobile industry to stimulate demand and help save around 10 lakh jobs, which are at risk due to prolonged slowdown in vehicle sales.
Offering an olive branch to the Opposition to get the GST bill passed, Finance Minister Arun Jaitley on Thursday said that Prime Minister Narendra Modi is willing to speak to everyone to get the landmark indirect tax law through.
FM Arun Jaitley says I-T dept's capacity to access information and apply technology driven analytical tools to expose evasion has been enhanced
'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.'
In yet another instance of his confrontation with the Dravida Munnetra Kazhagam dispensation in Tamil Nadu, Governor R N Ravi on Monday concluded his customary address to the House within a few minutes, making certain remarks over the content of the address that were 'expunged'.
India's tax pie seems to have undergone a subtle change with a sharp drop in direct tax collections resulting from a disproportionate impact of the COVID-19 carnage on incomes. The share of indirect taxes, which mainly comprise of levy on goods and services as well as import duty, has risen while that of direct taxes - made up of corporate and personal income tax - has gone down in 2020. In an interview with PTI, finance secretary Ajay Bhushan Pandey said in a pandemic like this where the economy has been impacted, any large scale changes impact direct taxes more severely, whereas indirect tax collection is mostly proportional to business turnover and compliance.
In a first, Opposition-ruled states on Saturday got the Centre to delete from the records three minutes of the last GST Council meeting that provided for tweaking of agreed criteria for division of taxpayers under the Goods and Service Tax regime.
Top firms get GST notices on credit claims on Friday; replies sought within hours.
The surge in export, domestic demand and public spending in infrastructure projects might revive private investment during 2017-18.
To understand Modi, listen to what he does not say -- vide NRC, suggests Prem Panicker.
'You may see some movement indicating a simpler tax regime with less exemptions but with fewer tax rates making life simpler for taxpayers.'
It takes eight to nine months for developing a robust software from the time the rules are decided, warns Bharat Goenka, managing director of Tally Solutions, one of the entities entrusted as a 'Suvidha Provider' with developing ready software for customers to get them ready for the coming Goods and Services Tax.
