Finance Minister Arun Jaitley had came out with a host of proposals last month.
US State Department's report said that this has resulted in many investors retreating slightly from their once forward-leaning support of the BJP-led government
No longer a discretion of the tax administrator, the audit of returns filed by taxpayers is now based on a selection by algorithms, notes Tarun Bajaj.
Prime Minister Narendra Modi on Thursday asked his Council of Ministers to make extra efforts for effective implementation of public welfare schemes at the ground level and work on new ideas in their ministries ahead of the budget.
PM Modi said his government has nothing to hide and would take everybody into confidence while dealing with it.
E-commerce giants such as Amazon, Netflix and Flipkart, whose headquarters are not in India, potentially have to pay the additional levy of 2 per cent from April 1.
The GST Council, headed by Finance Minister Nirmala Sitharaman and comprising representatives of all states and Union territories, will have its 37th meeting in Goa against the backdrop of economic growth hitting a six-year low of 5 per cent in the first quarter of the current fiscal.
Criticising various provisions in the proposed GST regime, Moily said it will be a "technological nightmare" and the anti-profiteering provisions in it are "far too draconian."
The Asian markets are largely trading in the green, taking heart from a positive close on Wall Street.
The GST to be implemented from April 1, 2016, will increase the premiums.
With just eight days left for the winter session, Jaitley and Parliamentary Affairs Minster M Venkaiah Naidu held consultations with Leader of Opposition in Rajya Sabha Ghulam Nabi Azad and Deputy Leader Anand Sharma.
As per the revised return filing timeline decided by the Council, for July, the sale returns will have to be filed by September 5 instead of August 10. Companies will have to file sale invoice for August with the GST Network by September 20 instead of September 10 earlier.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
In several areas, the Indian government has put out a model law.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Statements of five 'Angadiya' firm operators have also been recorded by the ED to establish the "money trail" of this alleged Rs 45 crore bribe amount.
References to the repealed laws for service tax, purchase tax, etc, continue in the SEZ laws.
Tax experts say one of the most dispute-prone proposals is making "fraudulent availing" of input tax credit (ITC), without an invoice or bill, a cognizable and non-bailable offence.
GST seeks to subsume many indirect taxes at the Central and state levels.
Modi must focus on other state-level reforms, such as those in labour laws, leasing of land and agriculture
Addressing Bharatiya Janata Party leaders and workers on the birth anniversary of party's ideologue Deendayal Upadhyay, Modi asked them to reach out to farmers on the ground and inform them about details and benefits of the new agriculture reforms and how these will empower them.
One of the the biggest tax reforms since Independence, GST will create a national market for goods and services
These plans aren't likely to put substantial cash in your hands.
India can attract significant FDI, says experts.
The bill was taken up for consideration in the Lok Sabha after the Speaker rejected Opposition demands to refer the key reform measure to a parliamentary Standing Committee.
You can reduce your tax burden by wisely using partially taxable allowances, suggests Bindisha Sarang.
India's existing web of federal and state sales taxes is levied at different stages of the supply chain and often results in double taxation, while forcing trucks to spend nearly a quarter of their road time in border checks or other inspections.
The disputed region witnessed clashes on Saturday between the police and activists of a rights movement, leaving at least one police official dead and injuring over 100 people, mostly policemen.
Options include raising both excise and service tax rates in FY16
Sections in the draft Personal Data Protection Bill are a blatant violation of the Right to Privacy as guaranteed by the Constitution.
Select committees of the House have already submitted their reports
There was no law that prevented the government from presenting a sixth full Budget, or something similar to it.
First Rajya Sabha approved the Rs 45 lakh-crore spending proposed in the Budget, followed by the nod to the Finance Bill that contains tax proposals.
The PM noted that the first part of the Budget session was very productive and several important legislations were passed.
.jpg)
Cabinet likely to pave way for the 'super-rich' tax today.
The Delhi high court on Wednesday asked the Centre and the Delhi government to present their stand on a plea seeking recall of all currency notes above Rs 100, restricting cash transactions above Rs 10,000 and linking assets worth more than Rs 50,000 with Aadhaar to check corruption.
The finance minister is "reasonably confident" that when it comes to the crunch, "it would be extremely difficult even for the Congress party to take a contrarian view" on the GST Bill.
GST revenue for May stood at nearly Rs 1.41 lakh crore, a 44 per cent increase over the same month last year, the finance ministry said on Wednesday. Bucking the month-on-month increasing trend of the last two months, the Goods and Services Tax (GST) revenues came in lower than the record high collection in April at Rs 1.68 lakh crore. In March GST revenues were at Rs 1.42 lakh crore, while in February it was Rs 1.33 lakh crore.
An audit conducted by professional services firm Alvarez and Marsal confirms fintech firm's dealings with fake or non-existent vendors.
Senior leaders within the Congress now say the party could accommodate the government's argument that the GST rate cannot be stipulated within the Constitution.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances