Congress is opposing the GST bill in the current form.
The heavy industries ministersaid that the proposal for the auto scrappage policy was ready and all stakeholders have provided inputs, therefore its announcement was likely very soon.
'In a nation where safety standards are the lowest in the world, why make compliance expensive?' asks Aakar Patel.
Introduction of GST would make Indian products competitive in the domestic and international markets.
With just eight days left for the winter session, Jaitley and Parliamentary Affairs Minster M Venkaiah Naidu held consultations with Leader of Opposition in Rajya Sabha Ghulam Nabi Azad and Deputy Leader Anand Sharma.
The Congress filed a dissent note on eight provisions.
Simpler GST structure will be key poll plank, Congress sources tell Archis Mohan.
The ministry of electronics and information technology is working on creating a software product council, including members from the government, academia and industry that will work on implementing a software products mission.
Since its rollout 13 months ago, the new indirect tax has yielded Rs 1 trillion only in in April 2018
States are planning to pass resolutions in their legislative assemblies; however, such tactics will be used as the last resort if the Centre continues to stall allocations.
Consumption of gold is the highest among middle-income households - those with annual income between Rs 2 lakh and Rs 10 lakh - who account for an average of 56 per cent of gold sales over the last five years, according to a nationwide survey conducted by India Gold Policy Centre (IGPC) at the Indian Institute of Management, Ahmedabad (IIM-A). "Per capita consumption is highest among the rich, but total volume still rests with the middle-income group. "With increasing income, there is an increasing propensity to consume gold, although the share of gold in the portfolio does not increase with the same proportion of income," the survey report says.
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.
A corpus of Rs 20,000-30,000 crore is under consideration, to narrow the input tax credit cycle and facilitate their working capital requirements.
The new form will only require a complainant to mention the product and GST identification number of the seller
Sitharaman said the government understands that the contours and tone of issues for each sector varied from one to the other.
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.
This meeting has led to the deferment of the Goods and Services Tax (GST) Council meeting by a day.
After the 2019 election, one thing is sure: GST will see a number of changes, explains Indivjal Dhasmana.
The results of the assembly elections in Gujarat and Himachal Pradesh are likely to play out during the winter session of Parliament beginning Wednesday.
Even if the GST rate is 18-20 per cent, there would be no average impact on inflation.
Finance ministers from Congress-ruled states say they have alerted the Centre about the problems in GST for several months, but it is only now with the Gujarat assembly election around the corner that the Modi regime has started heeding these suggestions.
The Centre on Thursday placed before the GST Council two options for borrowing by states to meet the shortfall in GST revenues, pegged at Rs 2.35 lakh crore in the current fiscal.
Jaitley said India needed to grow by additional 1-1.5%.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
The system has gone through three rounds of testing for its load-bearing capacity.
Response to Rahul yatras in Gujarat forced GST cuts, says Congress. It reflects Modi's willingness to listen, says BJP.
FM said a Constitution Amendment Bill for introduction of GST will be passed soon.
The changes made in the revised GST draft throw up fresh issues but, overall, most of these look sensible, says T N C Rajagopalan.
Infosys had told the group of ministers that it would expand its 100-member team to speed up the bug fixes.
Given the many policy areas where the Centre and the states have not been seeing eye to eye in the last few years, it is time the Modi government convenes a meeting of the Inter-State Council, recommends A K Bhattacharya.
Grains, non-mineral water might be on the list; biscuits, butter and cheese might attract GST
GST reform has been hanging fire since 2006-07.
Particularly hit has been the apparel sector, where the time taken by the industry to adjust to the Goods and Services Tax regime, downward revision of export incentives, and a credit squeeze faced by small and medium scale enterprises, has pushed production downwards.
'At a recent event, says Kishore Singh, almost everyone present lamented art being labelled as 'goods', and therefore the artist its 'manufacturer'.
The Rajya Sabha on Wednesday took up the four bills related to the GST, with the Opposition urging the government to insulate taxpayers from harassment and questioning how the new regime was "ideal" when 40 per cent of the revenue base of the GDP was kept out of its purview.
'We revolutionised the system in a manner so that the chances of leakage will be much lower than it was in the beginning.'
Any judgement on whether the March numbers reflect sustainable growth in GST collection should ideally await the numbers that will be out in May, points out A K Bhattacharya.
The price of ensuring no disruption after rolling out the GST seems to be an imperfect GST with many relaxations in its compliance norms, says A K Bhattacharya.
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The Direct Taxes Code bill was introduced in Lok Sabha in 2010 and Standing Committee on Finance has given a report after its scrutiny.
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