The total revenue earned by central government and state governments after regular settlement in December was Rs 43,851 crore for CGST and Rs 46,252 crore for SGST.
There is nothing specific announced for Chemicals Industry, however, reduction in customs duty
The states have unanimously pitched for sole administrative powers to carry out assessment, scrutiny and enforcement for entities up to an annual turnover of Rs 1.5 crore.
Compliance requirements, valuation, input tax credit transfers are likely to lead to tax litigation, says Sayan Ghosal.
Enthused by the consensus in reaching four-tiered GST tax structure, particularly the unanimity achieved with Congress-ruled states, senior government sources were confident that the Central GST and Integrated GST Bills will be passed by both the Houses.
The revised structure will help to keep airfares down, when airlines already face a triple challenge of rising crude oil prices, rupee depreciation and constrained airport capacity.
The groups plan to take on well-entrenched players like Amazon, Flipkart, and Paytm by merging their offline businesses with e-commerce initiatives.
Currently, the five-year FTP aims to raise total exports to $900 billion but targets may be reduced
Only 69 per cent of the assessees filed returns
The 42-year-old British Indian politician acknowledges "playing catch-up" to Liz Truss in the race as he continues his campaign tour of the UK to win over Conservative Party members' votes.
'It is important to improve the quality of spending.'
The Modi government's array of economic policy has been impressive.
To meet the yearly target, each of the next five months has to yield Rs 1.107 trillion GST collections.
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.
Here's a quick guide to navigating and ordering from global websites.
The broad trends of GST collections will make you wonder if indeed the biggest indirect tax reform in the country has led to a real improvement in revenues, notes A K Bhattacharya.
'The first year of the Modi government's second term has laid the roadmap for the future and we will embark on it with gusto,' promises Gopal Krishna Agrawal, the BJP's national spokesperson on economic affairs.
Chartered accountant and commentator M R Venkatesh on why the GST Bill will cost the BJP dear.
Apart from the much-reported constitutional and political hurdles on a national Goods and Services Tax (GST), there is another basic one. Barely half of dealers in the country have a Permanent Account Number (PAN) from the tax department.
States should have enough time. We still do not know the rules. There are a lot of operational difficulties, says Jammu and Kashmir Finance Minister Haseeb Drabu.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
The chief statistician feels there should be a rebound after companies integrate and adopt the GST system
E-invoicing would be implemented on a voluntary basis by those having an annual turnover of above Rs 500 crore from January 1.
These are obviously not 'organic' desertions but brought about under intense military pressure, post the 9/5 arrests. It seemed as if the party was being dismantled the same way it was brought into power!, notes Rana Banerji, who headed the Pakistan desk at RA&W, India's external intelligence agency.
Real estate sector cheers reforms in the Budget.
'The professional or the freelancer needs to pay taxes from his pocket first and then wait for payments from his clients.'
Lowering excise duty on petrol, diesel, and other fuels, branded fuels.
'Overall, compared to the previous episode, we are in a better shape because the vaccine is already out there and vaccination drives are proceeding'
Lack of visibility on rates makes companies apprehensive.
Contentious issues such as the construction of a Ram Temple in Ayodhya, abrogation of Art 370 giving special status to Jammu and Kashmir and enactment of Uniform Civil Code have been included in the Bharatiya Janata Party's election manifesto with the party making promises on them.
The GST Council on Saturday is expected to extend the date for IGST exemption and cess on imports
Accounting for the first Advance Estimates for 2017-18, an additional planned borrowing of Rs 200 billion, the fiscal deficit could come in at 3.35 per cent of GDP.
States' demand of compensation from Centre for loss of tax revenue not on agenda.
Some of the players in the GST race are Payworld, Dell, Tally Solutions
The Budget emphasises on capacity building and empowerment of marginalised sections of society including farmers.
Finance Minister Arun Jaitley revealed that the government wanted to give Hasmukh Adhia a post-retirement role, but Dr Adhia said he would not work for a single day after November 30.
Indian Railways has tied up funds for the next two years for its ambitious modernisation programme.
Regulated electronic platforms such as e-spot markets or spot exchanges may be deemed as authorised markets.
After the April-July fiscal deficit data was released on August 31, several analysts hinted that the government may need to go for cuts in capital expenditure to meet the fiscal deficit target.
Modi govt did decent job in its first year.
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