The challenges before the government, he said, is to put public sector banks back on track and continue to operationalise stalled infrastructure projects
The Centre would need the concurrence of 20 states out of 29 to impose a GST on petroleum
The Bills pertaining to the introduction of a new law and amendment to the Constitution will not be tabled in the coming Budget session of Parliament. finance minister Pranab Mukherjee and state finance ministers will meet in April to decide a new date for the GST rollout.
CAF Bill's fate to be decided on Monday
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
According to the draft, in the northeastern states the threshold is at Rs 500,000.
With a focus on direct, indirect, and corporate tax structures, the Budget 2016-17 offers a balanced taxation structure
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
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
GST is intended to create a single market and boost commerce in India's $2 trillion economy
The Congress will respond comprehensively only after specificity emerges in the proposals, reports Amit Agnihotri.
GST making you anxious? Here is a fact-check on how new tax will impact you.
The session started on December 15 ended on January 5.
Government strategists are trying to ensure that the requisite 16 of the 31 states ratify the Bill by the end of this month
Consensus seems a problem before the current session of Parliament ends.
The global economy is fragile now. It continues to face both long-term and short-term issues.
The GST bill's draft says tax would be levied on Maximum Retail Price
The month-long winter session of Parliament, which begins on Wednesday, is expected to be a stormy one with opposition parties determined to corner the government on several issues, including the issue of demonetising Rs 500 and Rs 1,000 currency notes, which has caused massive outrage across the nation.
Jaitley has pledged to narrow the deficit to 3.9 per cent of GDP in this fiscal year from 4.0 per cent in 2014/15.
Moody's expects macroeconomic policies to contribute to sustained robust growth.
Jaitley said the government has created transparent environment.
"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.
At her first presser after party's victory, Banerjee termed the coming together of CPI-M and Congress as a blunder.
Nasscom president said moving from single to multiple points could be a challenge from the point of view of ease of doing business
"Reform is not an end in itself. Reform for me is just a way station on the long journey to the destination. The destination is the transformation of India," he said.
Petroleum being out of the goods and services tax initially will create some anomaly as tax credit on some of the inputs to oil industry may not be given, said revenue secretary Hasmukh Adhia.
The guidelines, which have made service charge "totally voluntary and not mandatory", will be sent to states for necessary action
There are two ways: Deliver a rapidly growing economic pie or reform GST and close corporate tax loopholes, suggests T N Ninan.
They are now scaling or shutting down their businesses because they can't compete with untaxed grey market gold. India's gold smuggling has increased significantly since the import duty was increased in the Union Budget 2019 in contravention with the broader market expectations of a cut.
The 0.5 per cent Krishi Kalyan Cess (KKC) on all services increases the total tax chargeable on services to 15 per cent, making it expensive to dine out or travel.
Companies are worried that any staggered roll-out of GST could result in cash flow issues with businesses not able claim tax credit due to breakage in the chain
BJP leader Sushil Kumar Modi on Wednesday said it is not possible to bring petrol and diesel under the GST regime for the next eight to 10 years as it would cause an annual revenue loss of Rs 2 lakh crore to all states. Centre and states collectively collect over Rs 5 lakh crore tax on petroleum products, Modi told the Rajya Sabha while participating in a discussion on the Finance Bill 2021. The statement assumes significance in view of the rise in petrol price for the past over one year which even touched Rs 100 per litre in some states. In the first reduction in rates in over a year, petrol price on Wednesday was cut by 18 paise per litre and diesel by 17 paise a litre as international oil prices tumbled to the lowest since early February.
World No 1 Iga Swiatek overcame a strong early challenge from former champion Sofia Kenin to reach the second round of the Australian Open
The FM has been making efforts to make the taxation laws simpler.
Goods like chocolates, chewing gum, shampoo, deodorant, shoe polish, detergents, nutrition drinks and marble will now attract 18% GST>
The land acquisition bill is a catalyst to investment and passing the bill will improve India's business environment.
'Congress party's strategy is two fold -- to disturb and delay.'
It's difficult to understand if GDP growth has actually improved.
The instruction is that audit of large units be completed within seven working days, of medium units in five working days and of small ones in three.
The finance minister could well be on her way to setting a record of achieving the biggest single-year reduction in the government's fiscal deficit, explains A K Bhattacharya.
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