Jaitley said the government has created transparent environment.
Experts said the rate hike would improve working capital position of the manufactures as it would correct the inverted duty structure but may lead to increase in price of the finished goods.
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.
The Border Security Force on Tuesday lodged a strong protest with the Pak Rangers over its "unprovoked" cross-border firing which killed one civilian and injured 14 in Jammu and Kashmir over past few days and warned that such acts or any other misadventure will not be tolerated at any cost.
Raksha Bandhan festivities were little subdued this year owing to the coronavirus pandemic, with siblings having to rely on technology to wish each other.
Though FDI inflow has been on the rise in the past three years, it is mostly on account of services
The goods and services tax will level the playing field for different sectors of industry, including domestic manufacturing.
The Bill was introduced in the Lok Sabha in December.
The GST, an indirect tax regime, is to be rolled out from April 2016.
The bill was passed by LS last year and now it has to go back to the Lower House for incorporating the amendments approved by Rajya Sabha.
The GST will subsume excise, service tax, value added tax, octroi etc.
The final rate will be worked out by the GST Council, Finance Minister Arun Jaitley said on Wednesday.
According to FADA, automobile retail trade and service industry comprises a network of 9,500 automobile dealers and their service stations engaged in sale, service/repair and spares of vehicles across segments, is an essential link in automotive business and a significant stakeholder.
Nine persons have been killed so far in ceasefire violations over three days, police officials said.
GST seeks to subsume many indirect taxes at the Central and state levels.
Auto sector has nothing to look forward to in the Budget.
Pakistan on Monday displayed white flags along the International Border in Samba sector possibly as a mark for having peace but it did not respond to calls for a flag meeting between border guards to de-escalate tensions.
Jaitley promised the states that they would be fully compensated for any loss of revenue arising from implementation of GST.
'Sin tax' is a globally prevalent practice under which products like alcohol and tobacco attract higher rates of tax.
Moody's has a 'positive' outlook on its 'Baa3' rating on India.
Goods and Services Tax would usher in an unified indirect tax regime.
The cess collected on cars as also tobacco and coal will be used to compensate the revenue loss of states by implementing GST.
Pakistan on Friday handed over to India a BSF jawan who was captured by Pakistan Rangers after he was swept away into their territory by strong currents of Chenab river.
'The fabric of democracy is fraying,' says T V R Shenoy. 'It is being attacked not just by terrorists in Kashmir or by zealots in the North-East, but is being ripped apart even in Allahabad, in the Hindi heartland.'
He will succeed Kerala Finance Minister K M Mani.
A two-day strike by wholesalers and retailers across Maharastra to protest against the imposition of Local Body Tax (LBT) began on Monday, bringing trading activity to a grinding halt.
The finance minister said the government was open to suggestions.
The shift from 'one country, one tax' to four tax rates could dilute possible gains on GDP, warns T N Ninan.
Gains in auto shares helped offset losses in select index heavyweights led by Infosys.
The city needs some autonomy, or it will continue to decline in all the ways that are familiar, observes T N Ninan
Nationalist Congress Party president Sharad Pawar on Sunday declared that he was not going to be the party's chief ministerial candidate for the forthcoming Maharashtra assembly election slated for September-October.
Govt may not announce any new concessions in excise duty
Highlights of BJP's prime ministerial candidate Narendra Modi's speech at the Maha Garjana rally in Mumbai
Maruti Suzuki and Hyundai would make the largest gain.
GST will lead to consolidation of multiple indirect taxes
Here's everything you need to know about the Goods and Services Tax Bill.
New head of the Confederation of Indian Industry speaks.
New government will have to mobilise money to complete pending irrigation, infra projects
The passage of the Bankruptcy Code could set the stage for other important legislation that may see India undergo more economic change than all governments combined since the reforms implemented by P V Narasimha Rao in 1991-93, says Ben Merton.
The premium on insurance policies will get costlier by 3 per cent to 7 per cent, depending upon the rate fixed by the GST Council from April 1, 2017, says Harjot Singh Narula.
