The Bill has already been passed by the Lok Sabha.
If you are being over-charged, bring it to the notice of the staff and, if required, the tax authorities.
GST compensation law allows for imposition of cess on certain luxury goods like tobacco, high-end cars and aereated drinks to create a corpus for compensating states for any loss of revenue in the first five years
The bench said if the governor decides to withhold assent to a bill, then he has to return the bill to the legislature for reconsideration.
Businesses across the country may soon be required to issue electronic invoices, or e-invoices, directly to consumers for the sale of goods and services. The Goods and Services Tax (GST) Council, in its forthcoming meeting on Monday, is expected to discuss extending the e-invoicing mandate to cover business-to-consumer (B2C) transactions. Currently, e-invoicing is compulsory for businesses with a turnover of Rs 5 crore and above, but only for their business-to-business (B2B) transactions.
The "construct of the DPDP Act" cannot be changed at this stage, though there may be some minor tweaks in the language of the Rules and formats in certain legitimate cases.
Many online retail websites follow 'aggregator' model.
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Opposition MPs in India's Rajya Sabha raised concerns about US President Donald Trump's tariff threats, demanding the government clarify its response and engage in discussions with opposition parties. Leaders like P Chidambaram and Sagarika Ghose warned of potential economic repercussions, including depressed exports, lower FDI, and a significant tariff burden. The debate also touched on other issues such as the government's economic policies, demonetization, and the impact of GST on common citizens.
The International Monetary Fund (IMF) has slapped 11 new conditions on Pakistan for the release of the next tranche of its bailout programme and warned that tensions with India could heighten risks to the scheme's fiscal, external, and reform goals, according to a media report on Sunday.
The Insurance Regulatory and Development Authority of India (Irdai) has asked at least 10 general and life insurance companies to submit a detailed road map for their listing strategies by the end of this month, according to multiple sources with direct knowledge of the matter. "The regulator met four life and six general insurers last month and asked them to provide their listing strategies by the end of February," said one of the sources.
The liquidity will move into deficit after advance tax payments and GST outflows. It will rebound in October because of government spending.
Because from June 1, 2015, you will have to fork out 14 per cent service tax instead of 12.36 per cent
Anticipating US action on tariffs, India seems to have made the first move by revamping its tariff structure by reducing the slabs to eight rates, points out Mukesh Butani.
The Goods and Services Tax Bill was passed by the Lok Sabha in May.
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The GST will subsume most of the indirect taxes like excise duty and service tax
Leader of Opposition in the Rajya Sabha Gulam Nabi Azad approached leader of the house Arun Jaitley, saying that he is accompanying Sonia Gandhi to Varanasi on Tuesday.
'Within India, people want high-quality, personalised banking services, and the demand for such services has exploded.'
The Centre is unlikely to offer new direct tax incentives for units operating in special economic zones (SEZs) and may instead allow the grandfathering of previous exemptions that such units were entitled to, according to proposed amendments to the SEZ Act, 2005, people aware of the matter said. The amendments, proposed by the commerce department, will soon be considered by the Cabinet for approval. This represents a departure from the department's earlier plan to introduce these changes through the Development Enterprises and Services Hubs (DESH) Bill, 2023, which faced strong criticism from the ministry of finance.
A day after the constitution amendment bill that enabled mega reform Goods and Services Tax Bill or GST was unanimously passed, action continues in Monsoon session of Parliament.
he Punjab government had also sought a judicial declaration that the assembly session held on June 19 and 20 was "legal and that the business transacted by the House is valid".
'Once filed, it cannot be revised or rectified.'
The indirect tax department on Thursday hinted that Vijay Mallya, owner of the grounded Kingfisher Airlines, may face prosecution in a service tax evasion case.
Modi on Friday invited the Congress leaders at his Race Course Road residence at 7 PM, sources said.
The stock of online classified major Info Edge (India) was up over 6 per cent on Friday on expectations of demand improvement for Indian IT companies. Strong revenue growth prospects for each of its online verticals - including recruitment, matrimony, real estate, education, and upside from its holdings in companies such as Zomato - had prompted Goldman Sachs to upgrade the stock. Info Edge's standalone revenue grew 10.6 per cent year on year (Y-o-Y) in Q2FY25, beating consensus. 99acres (+16.9 per cent Y-o-Y) and Jeevansathi (+33 per cent Y-o-Y) were drivers of growth while recruitment grew 8.5 per cent Y-o-Y.
'Spend, but create assets, spend but make sure that people benefit from it.' 'This has been a beautiful guiding principle. And I think as a finance minister I owe so much to the prime minister for keeping this path clear before us.'
By doing away with the 1 per cent inter-state tax over and above the GST rate, the government has met one of the three key demands over which Opposition Congress has been blocking the Bill in the Upper House
The Sensex oscillated in a range of more than 300 points.
At a meeting of the Empowered Committee of State Finance Ministers, the Centre's plan to bring petroleum goods under GST regime was opposed.
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Finance Minister Arun Jaitley on Wednesday drove over to Rahul Gandhi's 12 Tughlak Lane bungalow to personally invite the Congress vice-president to his daughter Sonali's wedding.
The S&P BSE Sensex ended 274 points to trade at 25,036.
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'Not only jobs are not being generated, but people are also losing jobs.'
Finance Minister Pranab Mukherjee on Monday announced a slew of concessions, including a 1 per cent interest subsidy for lower and middle income housing loans, and exempted road repair and maintenance services from the ambit of service tax.
The S&P BSE Sensex shed 119 points to close at 27,977 and the Nifty50 dropped 45 points to finish at 8,591.
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Might use it to counter Opposition campaign on land issue.
The USIBC has encouraged a streamlined implementation of the GST.
When the Centre collects money through cess, it can retain the entire fund for the particular scheme.
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