Common items between Centre and states - bread, eggs, milk, vegetables, cereals, books and salt - will continue to be exempted.
Modi said the Goods and Services Tax has within one year of its launch led to over 70 per cent jump in indirect taxpayer base, demolished check-posts and merged 17 taxes and 23 cesses into one single tax.
The airline is gearing up to come out with an initial public offer.
'Many theories are doing the rounds on how to declare unaccounted income.'
'One of the more interesting ideas I have heard,' says Harsh Roongta, 'is that the tax payer can state that he found the currency notes in a bag on the street.'
Boost to dairy sector will generate jobs
Online companies would look forward to an integrated and uniform approach for tax laws and regulatory policies
Boosted by handsome royalty from oil facilities at Barmer, the Rajasthan government has spent nearly Rs 30,000 crore on various social welfare schemes in the last four-and-a-half years. Chief Minister Ashok Gehlot tells Business Standard's Mayank Mishra that the state's better performance on various socio-economic indices is a result of that. The excerpts:
Overseas airlines can operate unlimited number of flights into and out of India.
GST impact: Higher lease payouts may hit airlines, cab aggregators.
"At present, there are two main rate slabs under which sa majority of goods are covered -- five per cent and 12.5 per cent -- which will now increase to three (five per cent, 12 per cent and 18 per cent).Will this result in multiple litigations is anybody's guess."
In Mumbai, jet fuel costs Rs 71,940.36 per kl as against Rs 73,306.89 per kl previously, IOC said.
Vidarbha piled up a mammoth 511 in their first essay and then reduced Mumbai to 169 for six on the second day of their Elite Group A Ranji Trophy Game in Nagpur on Monday.
'While the GST is structured to be an all-encompassing tax and to create a vastly expanded digital network of recorded transactions, no one knows how traders long used to avoiding taxes will apply their ingenuity,' says T N Ninan.
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.
Tata Sons has moved the Supreme Court against an estimated Rs 300-crore (Rs 3-billion) sales tax demand from the Maharashtra state government.
"To begin with, people could face some difficulties because any changeover has its own problems. But it will settle down and the country will benefit from the new indirect tax regime," Jaitley said at an event organised by ABP News.
Since end-May there has been volatility in the foreign exchange market.
Jet fuel (ATF) prices have been hiked by a steep 6.9 per cent, taking the rates to lifetime high of Rs 75,031 per kilolitre.
Aviation Turbine Fuel, or ATF, price at Delhi was cut by Rs 3,025.34 per kilolitre, or 4 per cent, to Rs 71,800.21 per kl, according to Indian Oil Corp, the nation's largest fuel retailer.
Jewellers on Monday decided to continue their pan-India strike for an indefinite period against the Budget proposal.
Modi said officers must fix clear targets to improve the country's tax administration by 2022, the 75th anniversary of Independence.
It suggested reforms in the real estate sector.
Noting that oil prices had gone down after the BJP-led government came to power in May 2014, before they went up, Prasad said it is a problem whose solution is not in its hands.
The loss on diesel sales has inched up marginally to Rs 8.37 a litre even as a surge in international oil rates and a weakening rupee wiped out gains from a 50 paise increase in the price of the fuel.
To incentivise the Micro and Small enterprise is to offer them lower rates of interest based on their business turnover
After today's reduction, petrol price has been cut by Rs 12.27 per litre cumulatively since August.
GST will yield 'better value for money' for car buyers, increasing automobile industry demand, says Sandip Neogi.
'We are in the reverse gear and we are not there anywhere compared to the rest of the world'
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The GST will subsume most of the indirect taxes like excise duty and service tax
The 59-year-old Batra is one of the few sports administrators to head a national Olympic committee while heading an important international sports federation.
The European Commission urged Greece to stick to commitments it has made to reform its economy as Prime Minister Alexis Tsipras called a snap election within hours of new EU bailout cash arriving in Athens.
After 17 tumultuous years, a nationwide Goods and Services Tax (GST) will rollout from midnight of June 30, overhauling India's convoluted indirect taxation system and unifying the $2 trillion economy with 1.3 billion people into a single market.
The GST will replace more than a dozen levies central and state levies, including central excise duty, service tax and central sales tax as well as VAT on sale of goods and entry tax, to make movement of goods seamless across 1.3 billion market.
As per the revised return filing timeline decided by the Council, for July, the sale returns will have to be filed by September 5 instead of August 10. Companies will have to file sale invoice for August with the GST Network by September 20 instead of September 10 earlier.
The top posts on social media from your favourite Bollywood celebrities.
Armed with out-of-the box manifestos that promise abolition of income tax and unemployment allowance to educated youth, 48 Lok Sabha candidates of 21 lesser known parties have jumped in the poll fray in Gujarat.
In yet another setback to Finnish handset maker Nokia, the Tamil Nadu government has slapped on it a Rs 2,400 crore (Rs 24 billion) tax demand notice related to the devices sold from its Chennai factory.
According to market experts, GST Bill, movement of the rupee and uncertain global cues amid expected rate cut by the US Fed will dictate the movement of the markets.
100 per cent FDI is now allowed in almost every major TV distribution form (direct-to-home, cable, headend-in-the-sky, multi-system operators) and 49 per cent in TV news.
The fare will be cheaper as it will be capped at Rs 2,500 per passenger.
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