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.
Just as the mighty Bhim sacrificed his son Ghatotkach and Arjun sacrificed his son Abhimanyu in the battle against Kauravas, Yashwant Sinha must ask his son Jayant to sacrifice his ministerial office, says Sudhir Bisht.
'2017-2018 will be one of the best years for the country.' 'The wheel has finally started moving in the right direction. It should pick up momentum in the next 8 to 9 months to have a positive impact on the economy'
He said it was not only a tax reform but 'is a measure that lends strength to the new culture of honesty'.
Fast-moving consumer goods companies have begun assessing the impact of the rate structure declared on Thursday under the goods and services tax.
A moderate GST rate obviates the need for the two-rate structure.
The growth in imports was led by product categories such as diagnostic items, ultra-sonogram machines, MRI and ECG apparatus, syringes with needles, suture needles, digital thermometers, malaria diagnostic kits, and hearing aids.
Modi laid the foundation stone of a four-lane cable-stayed bridge between Okha and Beyt Dwarka.
"The fourth quarter results of GDP data showed a phenomenal 7.7 percent growth rate and has established India firmly as the fastest growing global economy. This trend, according to experts, is likely to continue for the next few years," Jaitley said in a Facebook post.
The government should take measures to promote innovation and R&D while simplifying regulations for the sector in the upcoming Union Budget, as per pharmaceutical industry bodies. Outlining the wish list for the sector in the upcoming Union Budget, Indian Pharmaceutical Alliance (IPA) secretary general Sudarshan Jain said the domestic pharma industry is currently around $50 billion in size and aspires to grow to around $130 billion by 2030 and $450 billion by 2047. "To achieve this vision, the Union Budget 2023-2024 should help fuel innovation and R&D, which will set the pace for propelling the pharmaceutical industry forward," he told PTI.
Their favourite alternatives: Malaysia, Vietnam and the Philippines. Note, India is missing from that list. And this is despite an attractive financial incentive scheme for OSAT players. The reason, said a senior executive of a US chip company who had a meeting in Taiwan just a few weeks ago, is that "they want more predictability in government policy because they plan to put in big money."
'I want us not to underestimate Indian voters. They can tell good work from bad.'
He said the country has witnessed a journey from indecisiveness to clarity and decisiveness.
The budgeted indirect tax collection target is Rs 9.26 trillion, and the Centre has collected around Rs 5 trillion in the first 8 months. So it needs another Rs 4.2 trn in the last four months
She has shown shrewdness, sensitivity, and courage. All of these will be needed in ample quantities for the real challenge that will emerge after the elections, notes Shreekant Sambrani.
Opposition members in the Lok Sabha on Monday blamed the Bharatiya Janata Party-led central government's policies for the price rise and accused it of ignoring the plight of common people, saying kitchens will soon "see a lockdown" if the Centre does not take corrective measures.
Vagela could not have reached this position if Narendra Modi, who'd known him from his chief minister days, had not backed the choice.
The company aims to follow the government's push for environment-friendly vehicles by driving in models with green technologies.
NDA under Mr Modi is as focused on the rural poor with doles and hand-outs as the UPA under Dr Singh was.
2019 was the Bharatiya Janata Party's breakout year, when it stretched the boundaries of what was thought possible and ended up with 303 seats on its own steam. Now it is forced to play defence, on a pitch queered by too many variables, asserts Prem Panicker.
The challenge of cleaning up the taxation system and introducing the goods and services tax (GST) regime cannot be underestimated.
On one hand, South Indian states have been complaining about denial of a proportionate portion of the sharable funds from the Centre, based on population. On the other hand, they stand to lose Lok Sabha and Rajya Sabha seats that again are based on population, points out N Sathiya Moorthy.
Indications are that the DMK combine will win more seats than the AIADMK and BJP, but is facing a tough fight in about half a dozen from the rest, predicts N Sathiya Moorthy of the electoral contest in Tamil Nadu.
It is natural that the world wants to talk directly to India and the world wants to hear directly from the horse's mouth about India's policies and potential. It matters if you hear it from the leader: Modi
The BJP's oldest ally Shiv Sena remained silent on the performance of the National Democratic Alliance regime.
It is time he stood up and assured the middle class that they can count on him as one of their own, says Dr Sudhir Bisht.
The Prime Minister also underscored the importance of public sector undertakings in the country.
Only those who stick to the old I-T regime will get this benefit.
Higher oil prices, while not having an impact on Centre's revenues due to fixed tax rate, are pushing up states' sales tax revenue.
The new Land Acquisition Act to provide just and fair compensation to farmers came into force from January 1, 2014.
He said that the voices of the weak, did not reach the BJP and the RSS.
Cash flow-based analysis should throw up businesses better able to survive the transient effects of a working capital crunch, says Devangshu Datta.
Finance Minister Piyush Goyal: 'I hope the Congress governments and other states like West Bengal, Odisha, Tamil Nadu, Andhra, Telangana will support our effort to bring petrol and diesel into the GST regime.'
A record GST tax collection, an overhaul of the income tax return filing portal and the landmark move to scrap retrospective taxation have set the stage for the next level of reforms in tax administration that include bringing a framework for cryptocurrencies and rationalising the GST rate structure. With tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country aspiring to become the world's favourite investment destination. The task ahead is going to be a tough one as the tax department would grapple with taxing cryptocurrencies, rationalising Goods and Services Tax (GST) rates to shore up revenues and post June 2022, the scenario of how the GST revenue plays out for states without the Centre's support of compensation.
The GST Council last year imposed a cess of 15 per cent on hybrid vehicles, in addition to the 28 per cent GST, leading to a total tax burden of 43 per cent against a previous tax rate of 28 per cent.
T N C Rajagopalan on the new year and new worries.
In July alone, 2.5 tonnes of gold coins were imported so far from South Korea under zero-duty facility
All subsidies will be eliminated by March 2018
Both prime ministers believed in crafting schemes to help the common man. Modi used quite effectively the instruments Dr Singh introduced. In assessing Modi's success with many schemes, Dr Singh's fundamental work should not be ignored, points out A K Bhattacharya.
GST, a much needed reform that widens the tax net, promises to strangle many legitimate businesses while they wait for the tax administration and systems to catch up, says Rahul Jacob.
