Apart from making your purchases on these platforms expensive, it will also mean sellers will have to face the brunt of reduced cash flows amid already low margins for some. Experts said the proposal, which will take effect on April 1, 2020, and will be inserted as a new section in the Income Tax Act, is expected to affect the working capital of e-commerce companies and reduce cash flows for e-sellers.
'The telecom companies are our lifeline now, despite having nearly collapsed under debt because of ill-advised policies.' 'Perhaps our obvious dependence on telecom services will spark well-conceived policies for this sector,' says Shyam Ponappa.
Rediff readers tell us about their first salaries.
If the government tries to bring in real estate under GST now, it will be a typical case of biting more than what one can chew, says Sukumar Mukhopadhyay.
Print media will not benefit from the Budget.
He said, clothing, footwear and electronic sectors are large job creators and need big reforms.
There were nearly 4,000 cabin crew with Jet when the airline was grounded; every fifth remains without a job to date. One cabin crew member with 10 years of experience has been forced to take up a teaching job; some have branched out into small businesses. Aviation jobs were scarce even before the Covid-19 pandemic arrived on Indian shores in early 2020. The situation has been exacerbated since.
The brokerage reduced its target price for the company to Rs 995 per share from Rs 1,350 apiece. Credit Suisse said RIL's liabilities increased from $19 billion to $65 billion in four years.
It's an undeniable fact that after enactment of GST, buying insurance will become a little expensive impacting your term plans, health plans and motor insurance plans the most. But you should not ignore the importance of insuring your life, health, vehicle, says Harjot Singh Narula
New GST rates are between 5-18% on sectoral products
Finance Minister Arun Jaitley is keen to introduce a fair tax regime.
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.
It will reduce compliance cost as the assessee will not have to maintain multiple records for a variety of taxes
Lamborghini, which expects 60% growth this year has priced Huracan Evo at Rs 3.73 crore, also said in the next five years India will be one of the top 15 markets for the company.
One of the most favoured duty reimbursement schemes among exporters - the Duty Entitlement Passbook (DEPB) scheme - is likely to be scrapped, as the government gears up to introduce the Goods and Services Tax (GST) from April 1.
"To begin with, people could face some difficulties because any changeover has its own problems. But it will settle down and the country will benefit from the new indirect tax regime," Jaitley said at an event organised by ABP News.
Pranay Bhatia offers insights on some key issues from Nirmala Sitharaman's maiden Budget.
Implementation of the VAT regime, strongly favoured by the Kelkar committee on tax reforms, has been hanging fire since April this year.
The GST has been a great achievement, but it does suffer from weaknesses, says Chief Economic Adviser Arvind Subramanian.
The apex body said that the annual Indian software and service exports was expected to reach $50 billion by the year 2008 and of this Japan alone would account for three to four billion.\n\n
Jaitley said the government has created transparent environment.
There was no law that prevented the government from presenting a sixth full Budget, or something similar to it.
There are 230 million vehicles on the road, and counting. Bulk of these are under seven years old and once they get older, the industry estimates the requirement for spare parts and aftersales service to shoot up sharply.
As per practice a vote-on-account or approval for essential government spending for a limited period is taken in the election year and a full-fledged budget presented by the new government.
He, however, acknowledged that manufacturing states will suffer losses but said they will be compensated
The GST Network's chairman Navin Kumar speaks to Dilasha Seth and Indivjal Dhasmana on various aspects of the new tax regime.
The next meeting of the GST Council on January 16 would discuss the issue of jurisdiction over assessees as well as try to reach a finality on taxation of territorial waters
You can reduce your tax burden by wisely using partially taxable allowances, suggests Bindisha Sarang.
Phantom FDI refers to investments that pass through shell companies that have no real business activities and are tailor-made to cut tax liabilities.
GST will create a single, unified Indian market to make the economy stronger.
After 17 tumultuous years, a nationwide Goods and Services Tax (GST) will rollout from midnight of June 30, overhauling India's convoluted indirect taxation system and unifying the $2 trillion economy with 1.3 billion people into a single market.
The export of software and information technology services to Japan could triple to $1,500 million in the near future if Indo-Japan double taxation avoidance agreement is renegotiated.
The International Monetary Fund has expressed concern over implementation of "incomplete" value added tax system in developing countries, saying it will reduce the benefits of the new taxation method as it omits service and other vital sectors.
The FM has been making efforts to make the taxation laws simpler.
Leading IT services company Satyam Computer Services on Friday posted a 74.75 per cent increase in profit after tax at Rs 360.09 crore (Rs 3.60 billion) for the quarter ended June 30
Increase in service tax would make properties costlier to buyers.
If extra tax has been paid on inflated income, only a 'bona fide mistake' will get refund.
A domestic policy group would focus on issues related to service taxes, Data Protection Act and Indian Copyright Act. The international group would address global policy issues like WTO, besides visa and work permit matters.
Finance Minister P T R Palanivel Thiagarajan has proclaimed his determination to set Tamil Nadu's fiscal house in order in five years, and Friday will show how he plans to go about it when he rises to present the Stalin government's maiden budget, says N Sathiya Moorthy.
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