R Vignesh is a member of the Institute of Cost and Management Accountants of India in Chennai, appeared on Rediff Chat to answer readers' queries on GST.
Budget planners for now have been told to prepare with the assumption that GST will apply from April 1.
The government on Wednesday decided not to hold special session of Parliament to pass the constitution amendment bill for rolling out Goods and Services Tax and will recommend to the President to prorogue the Monsoon Session.
The Securities and Exchange Board of India (Sebi) has just released a proposal to alter the regulations pertaining to the sponsor system for mutual funds. One of the reasons for the proposed changes is that there are two conflicting regulations that need to be clarified. The other reason is that the sponsor system may itself be outdated as it stands, and the proposed changes would allow new entities such as private equity funds and portfolio management services to enter this space.
There was a "broad agreement" on five issues over which the 18 parties will target the government
The Maharashtra CM said he doesn't think the Centre has a plan on settlement of Hindu immigrant from other countries.
Global events will continue to be in the limelight, besides domestic policy.
The confidence that GST Network is capable of handling the returns, payments, reconciliation, refunds, etc., has been badly shaken.
Indian economy about to take-off
In her four-page resignation letter addressed to the prime minister, she said, 'In view of the decision of the government of India to go ahead with the Bill on the issue of marketing of agricultural produce without addressing and removing the apprehensions of farmers and decision of my party, Shiromani Akali Dal, not to be a part of anything that goes against the interest of farmers, I find it impossible to continue to perform my duties as a minister in the union council of ministers.'
Many private economists consider the deficit target optimistic, citing weak tax receipts in a sluggish economy and high federal expenditure commitments.
GST is the biggest revenue shake-up since independence
Party MLAs, including Madan Lal, Jarnail Singh, were seen lunging at Mishra and dragging him as he raised a poster.
Any judgement on whether the March numbers reflect sustainable growth in GST collection should ideally await the numbers that will be out in May, points out A K Bhattacharya.
A look at the team behind the Congress' aggressive stance.
'The professional or the freelancer needs to pay taxes from his pocket first and then wait for payments from his clients.'
'GST is imperative for India's success.' 'Without GST India will be a less competitive country.'
Negotiations near deadlock, as states oppose Constitution Amendment Bill.
The Economic Offences Wing of the Delhi Police has filed an FIR against former BharatPe co-founder Ashneer Grover, his wife Madhuri Jain Grover and family members Deepak Gupta, Suresh Jain and Shwetank Jain for an alleged Rs 81 crore fraud after a complaint by the fintech unicorn. The FIR, a copy of which has been seen by PTI, was filed under eight sections of the Indian Penal Code, including 406 that deals with criminal breach of trust, 420 (cheating and dishonesty), 467 and 468 (forgery). BharatPe in the complaint alleged that Grover and his family caused damages of about Rs 81.3 crore through illegitimate payments to bogus human resource consultants, inflated and undue payments through passthrough vendors connected to the accused, sham transactions in input tax credit and payment of penalty to GST authorities, illegal payment to travel agencies, forged invoices by Madhuri Jain and destruction of evidence.
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.
Clever wordplay does not change the fact that the government is going pretty easy on some tax offenders, says Arup Roychoudhury.
'The RBI is not releasing Rs 2,000 notes for the last 10 days; probably they have stopped printing it.'
The Congress, however, said it wanted to see the final print on the wording of the dispute resolution mechanism before committing its support to the Bill
The suspense over the controversial bill continues as the BJP insists that it was not introduced as Lok Sabha witnessed its stormiest proceedings ever.
Under the Vivad se Vishwas scheme, the MNCs will have to bring in disputed amount to India, else, the entire money will be considered as loan from subsidiaries on which interest will have to be paid.
Taxpayers might face several issues while filing returns this year.
A moderate GST rate obviates the need for the two-rate structure.
The BJP leadership is understandably mulling all options on the roll-out of the GST.
As freebies/gift vouchers attract GST, retailers are opting for straight discounts this festive season.
A strong proponent of the GST, Adi Godrej has been saying for five years or more that it will add one per cent to India's gross domestic product (GDP).
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
The surge in export, domestic demand and public spending in infrastructure projects might revive private investment during 2017-18.
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.
Tata Group-owned Air India has informed the Centre that aircraft lessors wish to set up their special purpose vehicles (SPVs) outside India since they aren't enthused about the Indian 'legal structure' and are loath to take risks. Indian airlines have a combined fleet of about 700 planes; over 85 per cent are on lease. A majority of lessors are based in Ireland due to its attractive tax policy, light-touch regulations, and swift legal system.
Officers from various departments including the finance ministry to be part of rehearsal event
Finance Minister Arun Jaitley to discuss key issues with state finance ministers.
There is much work to be done to design a good GST.
"There will be some challenges" in the switchover to GST in the short term, Finance Minister Arun Jaitley has warned.
Govt looking for common ground on GST; hopes to pass it soon.
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