Know what terms like anti-profiteering, CGST, SGST, IGST means in the new regime
Maruti Udyog Managing Director Jagdish Khattar on Wednesday said that antiquated laws, poor infrastructure and high tax regimes were preventing India from becoming a global hub for manufacturing small cars.
Crorepatis' income rose by a staggering 40% between 2015-2016 and 2017-2018.
The GST will be a national sales tax that will be levied on consumption of goods or use of services
GST making you anxious? Here is a fact-check on how new tax will impact you.
Modi told the probationers to have a 'sensitive' and 'humane' approach to the job.
Room for rise of up to 2 percentage points, move to help meet higher expenditure need in FY17
The new tax regime has got a lot of investors thinking on whether they should realign their 'tax saving' investment portfolio in favour of mutual funds.
The Deutsche report said though India must move to a GST regime, the transition is likely to be disruptive for large sections of the economy and SMEs
The GST, an indirect tax regime, is to be rolled out from April 2016.
Industrial output rose to nearly three-year high of 6.4% in August.
The combined share of customs and excise duties, service tax, and value-added tax in India's gross domestic product reached an all-time high of 10.5%.
E-proceeding of tax scrutiny has certain technical and practical issues which need to be addressed before making the system fully electronically driven.
The much-awaited introduction of value added tax regime from April one this year will be delayed by a few days because of some "unavoidable procedural tangles".
Fast-moving consumer goods companies have begun assessing the impact of the rate structure declared on Thursday under the goods and services tax.
Officers from various departments including the finance ministry to be part of rehearsal event
Stresses on need to boost investor sentiment through stable regulation.
Till such time that a new governance framework comes into being, the progress of reforms in health, education, land, labour, electricity and agriculture could remain fraught with problems, agitations and delays, observes A K Bhattacharya.
GST impact: Higher lease payouts may hit airlines, cab aggregators.
"There will be some challenges" in the switchover to GST in the short term, Finance Minister Arun Jaitley has warned.
In a dazzling resurgence, foreign investors have graced the Indian equity markets with an influx of nearly Rs 1.5 lakh crore in 2023, fuelled by optimism over the country's resilient economic fundamentals amid shadows of a gloomy global scenario. Experts believe that the positive trend may continue in 2024. This follows Indian equities witnessing the worst-ever net outflow of Rs 1.21 lakh crore by FPIs in 2022 on aggressive rate hikes by the central banks globally after net inflows for three consecutive years.
Chief statistician T C A Anant says growth figure might go up once indirect tax data is fully in, however, he agrees that private expenditure is yet to pick up
'The international community is moving away from harmful tax practices.'
The income-tax department may make a permanent account number (PAN) mandatory for cryptocurrency investors, in line with the demat account rules for stock market transactions, according to two people privy to the discussion. At present, disclosure of crypto holdings and related gains is voluntary. If tax authorities go ahead with the PAN mandate, crypto exchanges will have to furnish a statement of financial transactions (SFT) before the income-tax department.
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 48-year-old Indian Income Tax Act is set to be replaced by a new Direct Tax Code from April 1, 2011.
A task force set up by the heavy industry department will examine the definition of "small car" and suggest ways, including changes in the fiscal policy, to turn India into a manufacturing hub for such cars.\n\n
The Planning Commission has favoured the early introduction of nationwide value-added tax regime to augment revenues of the states and further restructuring of their costly debt to reduce their interest burden.
GST is levied on every transaction in the supply of goods and services, barring certain exempted items
The prices of essential commodities like flour and vegetables have flared by 18-20 per cent in Delhi as wholesale trade has slumped to a third ever since the state switched to the value-added tax regime on April 1.
Jaitley further said the country would eventually move to a two-tier GST, however, this depends on the revenue position of the government.
Jaitley has managed the difficult feat of sticking to the fiscal correction.
A day before the announcement of the Union Budget for 2004-05, the Economic Survey called for "overhauling" the tax exemption regime saying low Tax:GDP ratio was a prime concern and it was coming in the way of improving government finances.
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