Most e-commerce firms offer aggressive discounting and freebies, with specific purchases.
The finance ministry has asked Infosys to provide within 15 days a plan for quick resolution of glitches on the GSTN portal, as it took strong note of the "unresolved" problems and "tardy" progress made over the last two years on multiple issues faced by taxpayers in filing returns. On Saturday, the revenue secretary A B P Pandey held a meeting with top Infosys officials on the persistent glitches seen on the GST network, and decided to ask Infosys chairman Nandan Nilekani to make an urgent presentation before the GST Council on March 14.
The Centre's revenue from GST registered a decline of 10 per cent in 2017-18 compared to revenue of subsumed taxes in 2016-17.
An effort is on to change the fortunes of the country's largest transport network. But it's a long journey ahead.
According to an order issued by the Central Board of Direct Taxes, the department will share 'bulk information', starting from Permanent Account Number (PAN) to the taxpayer's name and all the individual data that it captures like father's name, gender, date of birth, photograph and signature or thumb impression.
The government now ends its mandate with reaffirmation in the vote-on-account of the same goals, for which it claims to have a clear line of sight.
'There are unscrupulous traders who create fake invoices by showing bogus e-way bills, movement of goods.' 'Since the entities registered across different states, and kept on changing their numbers, tracing them was difficult.'
Both sports and digital will drag down the healthy operating margins that entertainment television continues to make.
E-way bill generation, which is related to paying Goods and Services Tax (GST) and a key high-frequency indicator of economic activity, may have fallen to a five-month low in April as more cities experience lockdowns due to a surge in Covid-19 cases. In April e-way bill generation may decline to 55-58 million, which is the lowest since at least November. On the higher side, it is a 17 per cent decline over March.
The system has gone through three rounds of testing for its load-bearing capacity.
The instruction is that audit of large units be completed within seven working days, of medium units in five working days and of small ones in three.
Custom duties, a major concern for the oil sector.
So far, 38.38 lakh taxpayers accounting for 64.42 per cent of the total businesses, who had registered in July, filed returns.
Experts share their views on the steps that will help businesses become GST-ready.
The Vivad Se Vishwas scheme provides for settlement of disputed tax, disputed interests, disputed penalty or disputed fees in relation to an assessment or reassessment order on payment of 100 per cent of the disputed tax and 25 per cent of the disputed penalty or interest or fee.
In the event of the BJP's poor performance in the assembly polls this year and in early 2025, Modi's hold will get further weakened because he will no longer remain the invincible electoral persona tightly controlling the machine at his disposal, asserts Nilanjan Mukhopadhyay.
The company, which has a subscriber base of 120 million, also plans to raise funds via a bonds issue. The company's impending 4G launch is also expected in the second half of the current financial year for which it would invest Rs 12,000 crore, partly through bonds.
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.
Bajaj Auto, the king of the market for CNG-powered passenger three-wheelers, now wants to replicate this dominance in two-wheelers. The difference is that while the former is zooming - registrations for CNG-powered passenger three-wheelers nearly doubled during January-December 2023 - the latter, meaning a market for CNG-powered two-wheelers, does not exist.
'There were lots of functionalities the Group of Ministers asked us to incorporate.'
Some may lose competitiveness due to higher compliance costs
The confidence that GST Network is capable of handling the returns, payments, reconciliation, refunds, etc., has been badly shaken.
Hygiene and cleanliness of trains and stations a must
It shows that states would require a compensation to the tune of at least Rs 1.67 trillion in 2024-25, as none of them would be able to achieve a 14 per cent growth every year.
Businesspersons who have the potential to contribute to the economy of a country are given a red carpet welcome by way of a start-up visa.
The move would help tax authorities get leads on evasion.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Mauritius is biggest route for investment into India.
'Our objective is to reach a localisation rate of 50% in the span of five years.'
SpiceJet is conducting a strategic review of fleet and network, which could see staff reductions and a possible phase out of Bombardier Q400 planes in three months.
Apart from physical stores, the company operates 2,700 digital touch points in the form of web pages, which is gaining good traction from tier-II and III centres.
The GoM will meet on Saturday to finalise single-stage, simplified, return filing under the GST; report will be placed before GST Council on March 10.
Speaking at CNBC TV 18's business leadership awards event, Sitharaman made it clear that she was not expecting a jump in the number either.
GSTN is planning a disaster recovery drill and hence services will not be available for 12 hours, between 9am and 9pm, on July 1, and has requested the taxpayers to plan GST-related activities on the portal accordingly.
While it was technically not possible to block the deal, the tax department could resort to arm-twisting.
According to Mitra, items such as foodgrain, vegetables, leather goods, footwear, cottage cheese, puffed and flattened rice, books and entertainment tax, among several others, should be in the zero-tax bracket.
'The first year of the Modi government's second term has laid the roadmap for the future and we will embark on it with gusto,' promises Gopal Krishna Agrawal, the BJP's national spokesperson on economic affairs.
While the framework of service delivery and client-focused approach remains unchanged, Nilekani's suggestions, of taking start-ups with newer technologies to clients, are being implemented.
The power of the small neighbourhood retailer can barely be ignored as organised players look to leverage their last-mile connectivity and reach, luring them by promising support in technology, inventory and tax management.
