There could be a strong incentive for tax payers to avoid the higher tax burden.
A moderate GST rate obviates the need for the two-rate structure.
Petrol prices on Thursday crossed Rs 73 a litre mark, the highest level since the BJP government came to power in 2014, while diesel touched a record high of Rs 64.11 a litre.
The government has at last commenced important structural reforms.
Unless the judges factor in the ungovernability of technologies and their beneficial owners, present and future Presidents, prime ministers, judges, legislators and officials handling sensitive assignments may become redundant with reference to their age-old roles for securing 'national resources and assets', warns Dr Gopal Krishna.
'The economy will pick up in 2020 or a little later... When it picks up, will it reach 10%, 8% or still lower? It all depends on how realistic are the diagnosis and the prescriptions that follow,' says Professor K J Joseph.
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.
GST will yield 'better value for money' for car buyers, increasing automobile industry demand, says Sandip Neogi.
The GST will alter the very face of fiscal federalism in India.
Ministry considering tax sops for India's first global financial centre, steps to liberalise futures and options markets.
For the sake of transparency, and to reduce undesirable bond market volatility, clarity on these would be welcome, preferably before the budgets for the next fiscal year get finalised, says Neelkanth Mishra.
'Otherwise, how is the government going to make more revenue?' 'The most important thing the GST does is to transfer money from the household consumers who are the most productive users of capital to the most unproductive users of capital, namely the government.'
Experts hail Budget 2015 as a progressive, growth oriented one.
The development is expected to pave way for greater transfer pricing cooperation between the two countries, enhance investment flow
While naysayers say the economy is on a downward spiral, optimists point out that India has experienced a shift of gears in the realm of policies, thanks to several initiatives of the Narendra Modi government, says Ashok K Lahiri.
Prime Minister Narendra Modi defended Mr Rajan, but it would be debated why he took so long to dub criticisms like those against the RBI governor as improper.
But the road map of telecom will be decided by one thing: Whether Jio sticks to its ambitious plan and whether incumbents have enough financial muscle or ability to raise money every year to ensure that Jio does not reach its target, says Surajeet Das Gupta.
'Markets are likely to remain choppy for the next 6 months.'
According to market experts, GST Bill, movement of the rupee and uncertain global cues amid expected rate cut by the US Fed will dictate the movement of the markets.
Arun Jaitley is on a 10-day trip to the US.
Ahead of the assembly elections next year, the BJP has been wallowing in a welter of ideas that has resurrected the debate on populism versus pragmatism, as it has to pander to two important but incompatible constituencies, of the freebie consuming masses and Bengaluru's heavy hitters craving for even roads, pristine lakes and unbroken power supply, reports Radhika Ramaseshan.
'If governments choose to spend our money on cow meat detection kits or hugely expensive statues, it is also a form of corruption.' 'A betrayal of our hopes and aspirations,' says Amit Mehra.
The Prime Minister also underscored the importance of public sector undertakings in the country.
"I had no government as the seat of the establishment was wiped out by the worst floods in over a century," Jammu and Kashmir Chief Minister Omar Abdullah said on Thursday, recalling the nightmare of the disaster that hit his state six days ago.
The Centre set up a political tug of war with opposition parties which have planned to observe it as a 'black day'
'Gloom is nowhere in sight, with healthy foreign exchange reserves, a strong rupee, healthy tax collections, corruption and crony capitalism under check,' argues Gopal Krishna Agrawal.
Providers write to Sebi, FinMin; launches may hit pause.
Income-tax data released by FinMin after 15 years
Sensex closed over 118 points down on Thursday.
The two governments have already set a target of increasing bilateral trade in goods and services to $500 billion.
New head of the Confederation of Indian Industry speaks.
The industry status will help the sector access bank lending at average interest rates
These plans aren't likely to put substantial cash in your hands.
If a house is sold and the proceeds are used to buy another, whoever contributed to the purchase of the first house can claim exemption on capital gains tax
Companies' annual reports can hide as much as they reveal. Investors can get early warning signals of wrongdoing by frequently speaking to other stakeholders.
'My sense is that we should be braced for a correction.' 'It has already begun in the mid-caps for the past month, and will now spread to larger stocks as well.' 'Use the correction to upgrade the quality of your portfolio,' advises Akash Prakash.
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Modi said there was a time when families would celebrate getting gas connections as if they have got home a Mercedes.
Political observers say Banerjee is fast emerging as the face of the Opposition and would be a force to reckon with in the next general elections in 2019.
Increase in taxes on luxury cars will not have any effect on the demand
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