The mandate will help further the development agenda in these states, with good governance and policy reforms taking centrestage
E-invoicing would be implemented on a voluntary basis by those having an annual turnover of above Rs 500 crore from January 1.
Most say they will review their Make in India plans as prices may top pre-GST level
If the protected growth in GST revenue is reduced to 10 per cent, the Centre would save more than Rs 25,000 crore in 2020-21 if none of the states show any revenue growth. This would nearly amount to 0.1 per cent of the gross fiscal deficit and help the government in avoiding fiscal slippage to some extent in subsequent years.
Panel formed to simplify return-filing process, take feedback from stakeholders, experts
'The low tax to GDP ratio of the country will go up, helping the government to adhere to fiscal discipline and keep inflation in check.'
The surge in export, domestic demand and public spending in infrastructure projects might revive private investment during 2017-18.
Earlier in May, Ford India announced that it had dropped its plans to make electric vehicles (EVs) in India, which it intended to export, under the production-linked incentive scheme (PLI). Ford was among 20 companies that had signed a Champion OEM Incentive Scheme under the PLI project with the government in February this year. The decision comes as a blow for the 4,000-odd employees at Ford India's Maraimalai Nagar plant near Chennai and in Sanand, Gujarat. In September last year, the company had announced that it would exit the India market, which it had entered in 1995 through an on-again, off-again joint venture with Mahindra & Mahindra (they split in 1998, signed a JV in 2019 and split again in December 2020), retailing petrol and diesel brands such as the EcoSport, Figo, Aspire, and Endeavour.
Sridevi and her husband Boney Kapoor made huge demands during the filming.
The studies found that sectors with the highest unaccounted income included real estate, mining, pharmaceuticals, pan masala, gutkka and tobacco, bullion and commodity markets, film industry, educational institutes and professionals.
With wages rapidly rising in China, all is still not lost. Wage costs in India are significantly lower and this fact could still help us turn the tide in our favour.
The Opposition said that the government was 'bull-dozing'.
A strong proponent of the GST, Adi Godrej has been saying for five years or more that it will add one per cent to India's gross domestic product (GDP).
Compliance requirements, valuation, input tax credit transfers are likely to lead to tax litigation, says Sayan Ghosal.
GSTN said those who do not want to give their Aadhaar numbers would have to undergo physical verification.
Falling private sector investment and farm distress are problems that call for immediate attention, says T N C Rajagopalan.
Tax experts are nudging the authorities to figure out why so many assessees are not filing their returns.
The finance minister is likely to announce the government's vision for a tax-friendly regime by raising the I-T exemption limit from the current Rs 250,000 per annum.
A GST roll-out by April 1 looks difficult, giving the companies some succour.
S&P BSE Midcap index and S&P BSE Smallcap were down 2% and 1.3% respectively
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
'There is something fundamentally wrong with the GST -- whether be it the rates, compliance, or the GST Network itself.'
The central government, in its revised draft of the constitution amendment bill, had proposed that fuel and liquor should be brought under the ambit of GST.
The final rate will be worked out by the GST Council, Finance Minister Arun Jaitley said on Wednesday.
Demand bounces back but uncertainty over GST rate for jewellery casts a shadow over future.
The Congress, however, said it wanted to see the final print on the wording of the dispute resolution mechanism before committing its support to the Bill
General Budget is a terminology earlier used to differentiate between the Union Budget with the Railway Budget. Full-fledged budgets are titled "Union Budget", while interim Budgets are titled just that.
'Today the real issue facing the Modi government is not about investment, credit and money supply and all those things economists like to talk about.' 'It is whether your average citizen has confidence in the government not to do something utterly whacky,' says T C A Srinivasa-Raghavan.
This is good news for the central government at a time when crude oil prices are rising.
There could be a strong incentive for tax payers to avoid the higher tax burden.
Modi said his critics were seeing slowdown in the last two quarters but were ignoring that the BJP government had brought down inflation from 10% to 2.5%.
Lupin was the top gainer after the USFDA cleared its Goa facility
'Since the NDA took office in 2014, and aggressively since 2019, the Union government seems hell bent on centralising all power and resources, only to fail spectacularly.'
Performance-based incentives were recommended by the 13th Finance Commission, but omitted by the 14th Finance Commission
We have to wait and see whether Jaitley's Budget speech translates into actions and desired outcomes, says T N C Rajagopalan.
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.
The Centre and states are likely to settle for this threshold.
1.03 crore taxpayers have been registered under GST till February 25, of which 17.65 lakh are composition dealers who are required to file returns every quarter.
Ajay Banga, the 55-year-old CEO of MasterCard, is on a roll.
For the week, the Sensex recorded a fall of 371 points, or 1.10 per cent, and the NSE Nifty 130.75 points, or 1.25 per cent.
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