The finance ministry has set up two committees of state finance ministers which would rework rate slabs, review GST exempt items and identify potential evasion sources. Four years after the roll out of the national Goods and Services Tax (GST), which replaced the complex indirect tax structure, the centre and states have started work on moving towards a "simpler rate structure in GST" by reviewing the current rate slabs, including special rates and merger of rate slabs. The Group of Ministers (GoM) on rate rationalisation would also review items under inverted duty structure to help minimise refund payout, and review the supply of goods and services exempt under GST with an objective to expand the tax base and eliminate breaking of input tax credit (ITC) chain.
The government intends to continue with the top GST slab of 28 per cent for luxury and sin goods, but is open to discuss narrowing down the three slabs of 5, 12 and 18 per cent into two, Revenue Secretary Tarun Bajaj said on Monday. Addressing the industry leaders, Bajaj said the rate rationalisation exercise of the GST Council is a result of introspection of GST, five years after its rollout, and the policymakers do not have a "fetish" to raise the tax rates to the revenue-neutral level of 15.5 per cent. On the industry demand for bringing petroleum products under GST net, he said since fuel constitutes a larger part of their revenues, both the Centre and states have some apprehension.
Sri Lanka declared a state of emergency on Wednesday as angry protesters stormed the prime minister's office in Colombo, hours after president Gotabaya Rajapksa fled to the Maldives on a military jet, amid the country's worst economic crisis in decades.
The future challenger to Narendra Modi would be somebody who can bring the Hindus and Muslims together again. The Hindus as Hindus, not broken caste groups, asserts Shekhar Gupta.
"I have made a mistake; I accept responsibility; I resign," the 42-year-old barrister said.
A special Indian team is camping in Manitoba to assist ongoing investigations by Canadian agencies and to render any consular services for the victims.
The government and the ruling Bharatiya Janata Party have dismissed the Pegasus Project reports as concocted and evidence-less.
The CBI has named Prasad, his wife Rabri Devi, and daughters Misa Bharti and Hema Yadav, in addition to 12 people who were given jobs in Railway zones of Mumbai, Jabalpur, Kolkata, Jaipur, Hajipur, the officials said.
'India today has to fight many a battle, all of which cry out for innovation. This is where the experience of the Diaspora could be the most productive well-spring.'
"Only time will tell us about that but I am quite sure that if a youngster who has, as you said, got brainwashed (into terrorism), joins the services under the scheme and stays with us for four years, I am sure he will be a different person and probably more of an Indian than a radical as you brought out," the air marshal told reporters.
A 38-year-old Indian frontline warrior in the United Arab Emirates was on Thursday discharged from hospital after he made a miraculous recovery from COVID-19 that seriously damaged his lungs and left him in an unconscious state for six months.
General Bajwa gets inputs from his senior officers, but he has the final word, notes Rana Banerji, who headed the Pakistan desk at the Research and Analysis Wing, India's external intelligence agency.
The people behind the killing of a police sub-inspector in Khanyar locality in Srinagar have been identified and will be brought to justice soon, Jammu and Kashmir Police chief Dilbag Singh said on Sunday.
'Upper castes who complain against reservations are fighting only for their own castes.'
The ISRO spy case is dead. And yet, not dead.
The Carens is a warning for cars such as the Tata Safari, Hyundai Alcazar, Maruti Ertiga, Toyota Innova Crista and Mahindra XUV 700, because Kia punches much harder than others in its weight category.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
"Pakistan Air Force continuously monitored the complete flight path of the flying object from its point of origin in Sirsa in India till its point of impact near Mian Channu and initiated requisite tactical actions in accordance with standard operating procedures," Pakistan Army spokesman Major General Babar Iftikhar said.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
10 high dividend paying stocks across sectors that are expected to maintain or even increase their pay-outs in FY23 thanks to faster earnings growth in the last four quarters.
While Modi had a party and an organisation that supported him, all Mulayam, a self-made man with no inheritance in politics, had was a set of (fairly flexible) beliefs.
SBI will auction two non-performing accounts (NPAs) next month to recover dues of over Rs 313 crore, according to a notice by the lender. The two accounts to be put up for e-auction on August 6 are Bhadreshwar Vidyut Pvt Ltd (BVPL) with a loan outstanding of Rs 262.73 crore and GOL Offshore Ltd with Rs 50.75 crore dues. "In terms of the bank's policy on sale on financial assets, in line with the regulatory guidelines, we place these accounts for sale to ARCs/banks/NBFCs/FIs, on the terms and conditions indicated there against," SBI said in the notice. The reserve price for the auction of Bhadreshwar Vidyut is set at Rs 100.12 crore and for GOL Offshore at Rs 51 crore.
Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
The smallest of the Indian Motorcycle line-up comes packin' with a 1000cc V-twin, but how is it to ride? Benjamin Gracias took the Sixty out for a spin.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
This doctor couple put their faith in India. And in return India has put faith in them.
The Centre told the Bombay high court on Tuesday that a door-to-door COVID-19 vaccination programme for senior citizens, specially-abled, bed-ridden and wheelchair-bound people is currently not possible, but it has decided to start 'near-to-door' inoculation centres.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
Assistant Sub-Inspector Babu Ram and Constable Altaf Hussain Bhat of Jammu and Kashmir Police were on Saturday posthumously conferred with the Ashoka Chakra and the Kirti Chakra awards respectively on the eve of the 75th Independence Day. While the Ashoka Chakra is India's highest peacetime gallantry honour, Kirti Chakra is the second in order of precedence of peacetime gallantry awards.
The government on Wednesday issued a gazette notification announcing a slew of amendments to 138 Acts of Jammu and Kashmir that included protecting jobs up to Group-4 for only those who are domiciles of the Union territory. The notification said among the laws amended is the Jammu and Kashmir Civil Services (Decentralisation and Recruitment) Act.
The Parliamentary Standing Committee on Information and Technology has called on Twitter to appear before the panel in Parliament Complex on June 18 at 4 pm and give representation on how to prevent misuse of social media and online news.
"We continue to press for the release of detainees for the full restoration of everyday services, but most importantly, for roadmap to the restoration of political and economic normalcy," said Acting Assistant Secretary of State for South and Central Asia Alice G Wells.
The Taliban had promised an 'inclusive' government that represents Afghanistan's complex ethnic makeup, but there is no Hazara member in the cabinet.
AFSPA can be safely lifted from almost 90 per cent of Nagaland, argues Shekhar Gupta.
'Imagine hanging from a thin steel cable under a helicopter with certain death staring at you below, being pulled up slowly in the din and downwash of the helicopter.' IAF Veteran Air Commodore Nitin Sathe, a helicopter pilot himself, reports on how the air force rescued those trapped in the Deoghar cable cars disaster last fortnight.
Here's the full text of address to the nation by President Droupadi Murmu on the eve of the Republic Day 2023.
Police and Central Reserve Police Force personnel were deployed in strength across the valley, especially Srinagar city, to ensure that the plans of separatists to disturb peace do not succeed
In New Delhi's corridors of power, debate continues on whether the navy even needs a third aircraft carrier.
India and five Central Asian countries on Thursday decided to establish a joint working group on Afghanistan at the senior officials' level, ministry of external affairs secretary (West) Reenat Sandhu said.
Chinese Premier Li Keqiang, who is at the helm of managing the country's economy for a decade, said that he will be stepping down this year, setting in motion the once-in-a-decade sweeping leadership change in the Communist country.
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