The columnist attacks Bollywood's pretty young things in her latest column.
The average listed company has to comply with several laws as it goes about conducting its business. Of these, there are three pieces of legislation that arguably have the most impact on its business.
Compliance requirements, valuation, input tax credit transfers are likely to lead to tax litigation, says Sayan Ghosal.
The central government wants to impose the levy; many states are opposed - at least, to the Centre doing so
Farmer leaders on Monday started their day-long hunger strike against the Centre's new farm laws and said protests will be held at all district headquarters later in the day, even as more people are expected to join the ongoing agitation at Delhi border points.
The new Goods and Services Tax (GST) is broadly as announced by Pranab Mukherjee in his Budget speech in July, and will comprise two parallel systems.
In the video, Bachchan explains GST as an unifying force just like the three colours in the national flag.
The GST Council is scheduled to meet next on November 10 and may consider lowering tax rates on a host of goods such as handmade furniture, plastic products and daily use items like shampoo.
A combination of reduced cash intensity, a focused strategy of tax administration and GST is the way to go, say Sakshi Gupta, Tanvi Garg and Abheek Barua.
While Congress and the states ruled by non-NDA parties pushed for the Centre meeting its statutory obligation of covering the deficit, the Union government cited a legal opinion to say it had no such obligation if there was a shortfall in tax collections. The Centre as well as BJP-JD-U-ruled Bihar were of the opinion that the states should borrow to make up for the shortfall in the tax revenues that have been compounded by the COVID-19 crisis, sources said.
The government on Wednesday put on hold a hike in LPG prices in states including Karnataka, Madhya Pradesh and Kerala, where an increase in local levies had led to a rise in fuel rates.
Though GST could mean complications in the short run, it will bring in undeclared revenues and streamline taxation across the value chain, the benefits should be worth the pain.
Even as the Indian IT industry is studying the fine print of the European Union (EU) to expand the scope of value-added-tax (VAT) from January 1, to include services like back-office operations, call centre work and administrative services delivered from non-EU nations (including India), it does not appear to be unduly perturbed.
Biscuit manufacturers have sought abolition of excise duty and reduction in value added tax by as much as 4 per cent in the Budget, stating that the product is consumed by common man and also distributed as relief material.
Experts said the rate hike would improve working capital position of the manufactures as it would correct the inverted duty structure but may lead to increase in price of the finished goods.
Petrol price cut by Rs 1.46, diesel by Rs 1.53 per litre
The combined share of customs and excise duties, service tax, and value-added tax in India's gross domestic product reached an all-time high of 10.5%.
Confident of meeting the schedule of introducing the goods and service tax in the beginning of the next fiscal, state finance ministers will meet the finance minister Pranab Mukherjee around mid-June on various issues relating to the new tax system.
In an attempt to stop states from levying local sales tax on inter-state transactions, the Centre has told Rajasthan that only Central Sales Tax can be levied on crude oil sold from Cairn India's fields in the state to refiners elsewhere.
In absolute terms, the fiscal deficit -- the difference between expenditure and revenue -- was Rs 6.12 lakh crore during April-November 2017-18
Company says that this is a long-term plan as it continues to evaluate options.
The prices of mobile handsets are likely to increase in Maharastra from Wednesday as the state government has hiked the sales tax on devices to 12.5 per cent from four per cent now.According to analysts, the tax increase would push up the cost of a Rs 3,000 mobile handset by Rs 250.
The pictures tell the story of the grand success of the first International Yoga Day.
Bollywood superstar Amitabh Bachchan has been slapped with a showcause notice by the Directorate of Revenue Intelligence (DRI) for allegedly not declaring dutiable goods at the Mumbai airport while returning from London last year.
The bill defines electronic cigarettes ss electronic devices that heat a substance, which may contain nicotine and other chemicals, to create vapour for inhalation.
After achieving high levels of market penetration, the Rs 8,800 crore (Rs 88 billion) detergents industry is now banking on growth through high-value products and innovation. Innovation in the laundry care industry is possible through four ways, according to Sudhanshu Vats, category head, home care, Hindustan Unilever (HUL).
Traders are placing great hopes that the next Budget will have some concrete measures on implementation of Goods and Services Tax but some experts doubt the new tax may take more time than expected.
The oil sector has been quite lucky for the Modi government. It has often provided an opportunity to the government to mend its finances, notes A K Bhattacharya.
Amarnath Yatra Sangharsh Samiti (AYSS) on Wednesday announced the launch of civil disobedience movement in Jammu region.
Tata Motors on Monday announced that the Tata Nano Standard version (BS2) will be priced at Rs 1 lakh (Rs 100,000) ex Factory Pantnagar (excluding transportation charges and VAT) thereby delivering on the promise made at the unveiling of the car at the Auto Expo in New Delhi last year on January 10th 2008.
New GST rates are between 5-18% on sectoral products
In Air 2, Apple has upgraded main camera to 8 megapixel while camera in iPad mini 3 remains the same at 5 MP.
The Centre will soon write to the states to bring uniformity in the Value Added Tax on oil products so that benefits of price cuts filter down to the masses.
Real Madrid's revenues exceeded 500 million euros for a second consecutive season in 2012-13, rising 1.3 percent to 520.9 million (436.7 million pounds), the world's richest club by income said.
All goods and services have been put in slabs of 5%, 12%, 18% and 28%
590 cricketers -- including 370 Indian players and 220 overseas players -- will go under the hammer during the two-day mega auction in Bengaluru on February 12 and 13.
But Down Under is a tough call due to shipment time and quality control issues.
Hit by soaring fuel prices, the aviation industry is mulling introduction of a "differential fuel surcharge" based on VAT rates in each state to partially offset losses suffered by the air carriers. "Airlines would not be able to survive if the cost of aviation turbine fuel (ATF) is so high and competition brings down the fares," V Thulasidas, chairman and managing director, Air India said.
What has come as a bigger blow for small traders in the commodity market is the 'invasion' of big retailers into the commodity market. This is hurting them more than the Centre's new regulation curbing stock holding and the effects of VAT. In fact, entry of big retailers has created a new dimension in the commodity market, particularly in the last two years. The small traders hold them responsible for the current scenario in the market, including steep rise in prices.
Almost half of the retail price of petrol of Rs 44.63 a litre in the national capital comprises taxes and duties, Minister of State for Petroleum and Natural Gas Jitin Prasada said.
