Cigarette companies have substantial wriggle room thanks to India's complex tax structure, which categorises them by length and filter
Jet fuel or ATF prices were on Thursday were cut by a steep 4.5 per cent, the first reduction in rates in six months.
Appearing on Rediff Chat, G Srikanth, partner in GSV Associates, Chartered Accountants, Chennai, and member of the Institute of Cost and Management Accountants, answered readers' queries on the Goods and Services Act.
10 women and six minors are among the injured, the officials said.
The GST Council, headed by Jaitley and comprising representatives of all the states, is scheduled to meet in Srinagar on May 18-19 to finalise tax rates on different goods and services after unifying at least 10 indirect taxes into the Goods and Services Tax.
The government has proposed to implement GST from April 1, 2016, and the new Finance Commission may be set up ahead of its schedule to look into the issues related to the new indirect tax regime.
The price reduction will be effective midnight tonight, announced Indian Oil Corp
Aviation turbine fuel to now cost more.
Jewellery showrooms in Tamil Nadu and Andhra Pradesh were also opened.
Gold traders and jewellers continued their strike for the 17th day today in protest against the 1 per cent excise duty on non-silver jewellery announced in the Budget.
Inching towards rolling out of GST, the GST Council on Saturday approved a law to compensate states for any loss of revenue from the implementation of the new national sales tax but deferred approval for enabling laws to next meeting.
The cess collected on cars as also tobacco and coal will be used to compensate the revenue loss of states by implementing GST.
Pharma body wants all excisable goods used for R&D purposes should be exempted from central excise duty.
All but written off after a string of injuries wrecked havoc on his career four years ago, enigmatic boxer Akhil Kumar staged a remarkable comeback to make the 10-member Indian men's team for the Asian Games, in Incheon, South Korea.
The manifesto, on the lines of the party's promise in Delhi in 2015, also says the AAP government will set up Aam Aadmi canteens at sub-division and district levels where one time meal will be available for Rs 5, and reduce the power tariff to half for usages up to 400 unit.
Only after its recommendations will the central GST, integrated GST and state GST Bills be taken up
The government plans to implement the single rate GST, which would subsume central excise, service tax and other local levies, from April 1, 2016
Releasing its 70-point programme, Kejriwal called party's manifesto 'holy'.
The opposition parties vehemently criticised the new 'one nation, one tax' system having four different rates instead of a single rate adopted in some countries including the UK and Singapore.
Jet fuel constitutes over 40 per cent of an airline's operating costs and the price increase will raise the financial burden on cash-strapped carriers.
The key proposals from the IT industry that were not addressed included removal of dual levies on software products
GST compensation law allows for imposition of cess on certain luxury goods like tobacco, high-end cars and aereated drinks to create a corpus for compensating states for any loss of revenue in the first five years
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:
Biennial elections are being held for 58 Rajya Sabha seats across several states and by-poll for one in Kerala.
Boost to dairy sector will generate jobs
Common items between Centre and states - bread, eggs, milk, vegetables, cereals, books and salt - will continue to be exempted.
As the MAMI film festival kicks off, Aseem Chhabra picks the must watch Indian movies.
The airline is gearing up to come out with an initial public offer.
Frozen mutual funds and shares worth Rs 86.72 crore belong to Choksi and his group, and the rest are owned by the Modi group.
Jauhar is a recurrent theme in the history of that period. And Khilji was hardly the only Muslim invader whose onset forced women to self-immolate. Nearly the entire Mughal clan, including the benevolent Akbar, forced jauhar on the defeated, says Vikram Johri.
'Till now, we were under tremendous stress. The economy was not recovering, the financial cycle was not moving and the banks were not supporting.' 'With the government pumping in money to the banks and asking the NBFCs to give priority to the MSME sector, there will be a revival.'
Manchester United have deposed Real Madrid as the world's richest soccer club after revenue grew to a record $735 million in 2015-16, according to Deloitte's annual Money League published on Thursday.
'In practice, GST will increase the pain of compliance, if not the cost, a lot.' 'It also has clauses that offer scope to create a single market for corruption,' warns Devangshu Datta.
In Mumbai, jet fuel costs Rs 71,940.36 per kl as against Rs 73,306.89 per kl previously, IOC said.
The British were in India for over 300 years but they never became Indians. The East India Company sent all its loot back to London and the British empire continued that tradition. On the contrary, the Mughals did not send a single rupee outside India. So by what right does one call them traitors, asks A Ganesh Nadar.
Some of the players in the GST race are Payworld, Dell, Tally Solutions
Overseas airlines can operate unlimited number of flights into and out of India.
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.
Online companies would look forward to an integrated and uniform approach for tax laws and regulatory policies
