Five years after demonetisation, which sought to curb black money and reduce cash circulation in the economy, 70 per cent of respondents said they paid a large component of the total payment towards a real estate transaction in cash. About 16 per cent said they paid over half the amount in cash, observes Shyamal Majumdar.
Now, in many cases, they give no old jewellery but the bills they get show gold as provided by them, the jeweller's making charge and the GST on that.
All you need to know about the Winter session of Parliament.
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Although the markets could see a knee-jerk reaction, they rule out a sharp fall.
To meet the yearly target, each of the next five months has to yield Rs 1.107 trillion GST collections.
This means taxpayers might continue to enjoy exemption on maturity of their investments
The president also pitched for simultaneous elections to Parliament and state assemblies, saying there was a need to discuss and build a consensus among all parties on the possibility of holding simultaneous polls.
Structural changes to government finances could be focus of the Union Budget, says Mihir S Sharma.
The central government, in its revised draft of the constitution amendment bill, had proposed that fuel and liquor should be brought under the ambit of GST.
Finance Minister Arun Jaitley to discuss state-level issues before finalising GST.
The government wants to introduce a nationwide goods and services tax to revive its stalled reform programme.
The fiscal gains from implementing the GST and demonetisation, while almost certain to occur, will probably take time to be fully realised
It would also be the last policy of Rajan
Finance Minister Nirmala Sitharaman will present her second Budget a little more than a month from now. Like any other FM, Sitharaman will depend on her team of bureaucrats and advisors to frame and present the Budget.
Never before in post-reforms India have Union Budgets seen a steady reduction in fiscal deficit for five consecutive years, points out A K Bhattacharya.
Macro and micro environment are becoming more challenging.
They are evaluating realignment of warehouses and supply chains, besides exploring locations to set up hubs and shutting down some distribution centres
GST will also make our exports more competitive and also provide a level playing field to domestic industry to compete with imports, the President said.
Finance Minister Arun Jaitley said government would continue reforms by taking executive actions.
ICICI Bank was the top gainer after stable rating for its senior unsecured bonds by S&P Global Ratings.
A heavy agenda including the ordinance on the Food Security Bill awaits the Monsoon session of Parliament beginning on Monday amid expectations that the short sitting will be more businesslike and smooth as compared to the din and dust in the last few sessions.
GST Council extends anti-profiteering authority's tenure, sends rate cut on EVs to fitment panel and also extended the date for filing annual returns under the GST by two months to August 30.
Some of the players in the GST race are Payworld, Dell, Tally Solutions
The Modi administration has been unable to initiate key reforms.
Simple takeaways from the Union Budget 2015-16 and how it impacts your life
The government plans to raise resources to finance capital spending beyond the Rs 3.10 lakh crore budgeted for 2017-18 through higher borrowing or divestment receipts.
In a resolution passed at its national assembly in Haridwar, the SJM said the Modi government's proposed strategic divestment of PSEs was an "imprudent business decision" and "against national interest".
From the roll-out of GST to H1B visa problems, the government needs to quickly deal with various disruptions.
The government had lately issued an ordinance on the insurance sector and introduced a Constitution amendment Bill on a national goods and services tax.
Finance Minister Arun Jaitley, who is meeting state finance ministers on Thursday to garner support for the Constitution Amendment Bill for a goods & services tax (GST), is likely to immediately dole out about Rs 13,000 crore (Rs 130 billion) in Central Sales Tax (CST) compensation to states.
Prime Minister Narendra Modi was elected last year on hopes he would revive a languishing economy.
States' demand for 5 years and Constitutional provision ruled out
The scheme is aimed at slashing the salary and pension bills of the three services, which have been increasing rapidly.
'Otherwise, how is the government going to make more revenue?' 'The most important thing the GST does is to transfer money from the household consumers who are the most productive users of capital to the most unproductive users of capital, namely the government.'
A Dubai trip plus Apple iPhone 12 is cheaper than buying the phone in India. Various models of the iPhone 12 Pro and Max are cheaper in Dubai by up to Rs 35,000 owing to higher GST, Customs duty in India.
The introduction of GST would constitute India's biggest reform.
Nancy Pelosi's gritty refusal to backtrack on her plans to visit Taiwan is part of who she is.
Jaitley's concerns are unlikely to cut much ice with the Congress.
The Empowered Committee of State Finance Ministers got its new chairman on Monday in Jammu and Kashmir's Abdul Rahim Rather.
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