Fiscal federalism should not be sacrificed at the altar of GST.
The Nifty has gained 2.6% so far this week, while the Sensex has climbed 2.85%
The current draft of the Goods and Services Tax could kill any hope of economic revival - and you should blame the Congress if it rolls over and lets it pass, says Mihir S Sharma.
Electricity has also been kept out of the GST ambit.
Bharat Krishak Samaj demanded that the Pradhan Mantri Fasal Bima Yojana should be replaced with a new crop insurance and compensation scheme.
The deposit has been made on account of the rate reductions approved by the GST Council in its November. The rate was reduced on items including shampoo, detergents, chocolates, beauty products, sanitary ware, leather clothing, cookers, stoves, after-shave, deodorant, detergent and washing power. Companies found it difficult to pass on the benefits to consumers immediately at the time of GST rate reduction owing to logistical issues.
Reaching out to the opposition, Prime Minister Narendra Modi on Sunday sought its cooperation in the passage of GST bill even as it asserted that government will be targeted over developments in Arunachal Pradesh and Kashmir during Parliament's Monsoon Session starting on Monday.
From Braille writers and Braille paper to wheelchairs, talking books, assistive listening devices and implants for the severely physically-challenged will attract a Goods and Services Tax of 5 per cent. But inputs and raw material for manufacturing of these assistive devices or equipment attract 18 per cent GST. Since the final consumer tax is lower than the tax on inputs, a domestic manufacturer can claim refund, an official statement said.
'The prime minister's announcement of a nation-wide shutdown was eloquent, but should have been more clearly phrased to avoid police overreach.' 'Migrant labour should have been allowed adequate notice and transport options to get home,' notes Rahul Jacob.
He died at AIIMS in New Delhi at 9.45 pm, hospital sources said.
The noted economist said some of the bad loans are due to a slowdown in the economy and asset restructuring companies are part of the solution.
Raghuram Rajan optimistic about passage of GST
Export growth picked up mainly owing to rising global crude prices, which pushed up processed petroleum exports by nearly 40 per cent, apart from a broad-based improvement in exports of major foreign exchange earners such as engineering goods and gems and jewellery.
Samajwadi Party president Akhilesh Yadav on Friday attacked the Uttar Pradesh government over the death of a Kanpur businessman in a police raid, claiming that the case is linked to an extortion racket and "someone" is trying to save himself.
'If petro products are brought into GST, then there will be minor impact on the incidence of tax... and minor impact on prices. The price of petrol, diesel will continue to be driven by global factors'
Group of ministers to review progress every fortnight.
Raja clarified that he had only watched clips of the movie on his mobile phone and said he did not have the patience to sit through a two-and-a-half hour film.
Pre-Budget excercise next month should scrupulously avoid adventurism of all types and refrain from making excessively ambitious projections on revenue and expenditure numbers for 2023-24, suggests A K Bhattacharya.
Congress is opposing the GST bill in the current form.
'You may see some movement indicating a simpler tax regime with less exemptions but with fewer tax rates making life simpler for taxpayers.'
He also took potshots at opposition parties' decision to observing November 8 as a 'Black Day', saying the move displays their faith in cash economy.
Most of the pharma units are failing in documentation, and validation processes, and many don't have full-fledged quality control laboratories.
A bench comprising Chief Justice Uday Umesh Lalit and Justice Bela M Trivedi said it was sitting in a combination of two and according to a reference order on the matter, it should go before a bench of three judges for disposal.
Optimistic buying in blue-chip stocks ahead of release of industrial production data for July and retail inflation for August drove stocks higher.
Experts have flagged issues regarding the levying of new cess/tax, especially those related to complications in administering the cess.
Drabu said the GST regime will roll out in the state at midnight on Friday, making Jammu and Kashmir the last state to join the new tax regime.
After the Covid-19 pandemic that derailed the economy since 2019, the Durga Puja festival in West Bengal is back with an estimated 20-30 per cent jump in festive spending. Retail sector is the key contributor to the state's Durga Puja economy which was Rs 32,377 crore in 2019, according to a British Council study conducted for the state government. Retail accounts for 85 per cent of the total puja economy and the rest is shared among pandal making, decoration, illumination, entertainment, advertisement, food & beverage and others.
Financials were the top losers after sharp gains in the previous session along with ITC
Finance secretary Ajay Bhushan Pandey on Sunday hinted that the government was working on another stimulus package but he refrained from giving a timeframe.
The rates of price rise in many services used by the common man, including hospital and nursing, cook, domestic help and bus (fare), among others, have also touched double digits during the last four years, putting a burden on disposable income.
The system has gone through three rounds of testing for its load-bearing capacity.
Extending losses for 7th session, Nifty fell below the 8,000 mark for the first time since Nov 25
Unlike the first two stimulus packages, this time the focus would be on boosting demand.
The 30-share barometer remained up throughout and hit a high of 29,070.20, powered by a rally in RIL and other blue-chips. The index ended 215.74 points up, or 0.75 per cent, at 29,048.19 -- its highest closing since March 5, 2015, when it had closed at 29,448.95.
The surge in export, domestic demand and public spending in infrastructure projects might revive private investment during 2017-18.
'The 2024 election results will lead to much intense targeting of Modi, more intense debates, many more breakdowns in Parliament and many more movements on the streets.' 'The results have hit Modi's standing, and the politics of the Opposition parties will be sharply focused to ensure that Modi doesn't get back his charisma of being 'invincible' with help of State power.' Sheela Bhatt looks at the political situation through the prism of 2024 Lok Sabha election results.
The lack of clarity on who is next in line, when the time comes, as indeed it will one day some day, reflects poorly on the management of the world's largest political party. It scarcely need be said that a squabble between the contenders, Shah and Yogi, is exactly what the doctor ordered for the Opposition, notes Krishna Prasad.
BJP president Amit Shah is chairing the meeting attended by top party leaders from across the country.
Accounting for the first Advance Estimates for 2017-18, an additional planned borrowing of Rs 200 billion, the fiscal deficit could come in at 3.35 per cent of GDP.
Market benchmarks Sensex and Nifty soared to new peaks on Tuesday, driven by gains mainly in metal, financial and IT stocks amid firm global cues and sustained foreign fund inflows. Tata Steel was the top gainer in the Sensex pack, surging 4.38 per cent, followed by Bharti Airtel 4.37 per cent, Vedanta 3.50 per cent, Tata Motors 3.03 per cent, HDFC 2.46 per cent and Bajaj Finance 2.39 per cent.After surging to its record intra-day peak of 41,401.65, the 30-share BSE barometer settled 413.45 points, or 1.01 per cent, higher at its all-time high of 41,352.17. Similarly, the broader NSE Nifty rallied 111.05 points, or 0.92 per cent, to its record closing high of 12,165.
