Implementation of GST demands full support from all states.
India showed revival signs in the March quarter.
5 commodities namely crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of GST's purview given the revenue dependence of state governments on these sectors.
Only luxury and 'sin' items could be left in highest slab. 12 and 18 per cent slabs could be merged in the future
New GST rates are between 5-18% on sectoral products
The blaze erupted around 7 am in the gas processing plant of the ONGC located in Uran area of neighbouring Navi Mumbai, an official said.
The passage of the bill will pave the way for setting up of a GST council that will decide the tax rate, cess and surcharges.
Chillr recently raised $5 million from Seqouia Capital.
The fall in investment rate is not surprising. But putting it together with rising share of wages in GVA, it shows that the focus is more on productivity, rather than adding new capacity, says Pronab Sen, former chief statistician of India.
Finance Minister P Chidambaram on Tuesday said the country must have a basic tax structure that is broad-based and oriented to low tax rates.
Almost each of these companies has a different technology to show for the effectiveness against microbes.
The benefits are common in many cases, but are also different in some other respects.
A pick-up in farmer income could have a cascading impact on the rural economy, though agriculture is becoming a smaller part of India's overall rural incomes.
'I cannot cope with the demand. It will take us a couple of months to ramp up production.'
Here's everything you need to know about the Goods and Services Tax Bill.
Design thinking is not designing as traditionally understood.
'India has the potential to reduce its trade deficit with China by $8.4 billion in FY21.'
Manufacturing taxes, VAT will come down, assures Jaitley
With less than a year left for the scheduled introduction of the Goods and Services Tax (GST), most states have increased their VAT (value-added tax) rates. The move is seen as an attempt to extract better compensation from the Centre for loss on account of GST rollout
The services sector, which plays the biggest role in shaping the economy, is facing loads of issues currently. The largest segments, financial and real estate, are struggling to cope with bad debts and low demand for houses.
Implementation of the VAT regime, strongly favoured by the Kelkar committee on tax reforms, has been hanging fire since April this year.
Large states like Andhra, Chhattisgarh, Gujarat, Himachal, MP, Odisha, Punjab and Tamil Nadu would need compensation from the Centre
The current salary paid by the Delhi government amounts to 17 per cent of the total expenditure.
At present, the threshold prescribed for imposition of Value Added Tax -- which will be abolished when GST comes into effect -- differs from state to state.
The year 2018 is likely to be steady in terms of institutional investment into real estate
ISRO needs next generation launchers and new facilities to manufacture and launch them.
The aim of the exercise was to further simplify GST forms and make the filing process more user-friendly, the finance ministry said in a tweet, reports Dilasha Seth.
The GDP slumped to a three-year low lagging China for the second straight quarter -- as manufacturing slowed ahead of the GST launch amid demonetisation effect.
The wholesale price index inflation is projected at 6.4 per cent for 2017-18.
Another point of contention is the invoice issued by the e-companies.
The 6-member Monetary Policy Committee, headed by Reserve Bank of India Governor Urjit Patel, in its fifth bi-monthly review, kept the repo rate unchanged at 6 per cent and reverse repo at 5.75 per cent.
The new tax is expected to subsume various indirect taxes, including excise and value-added tax.
He's the hero for forging consensus on GST, popular in the Left Front and among his students, but industrialists are less than enamoured.
"Tata Communications' agreement with China Entercom allows us to serve our many global and India MNC customers who require a single scalable and reliable global VPN with deep reach into both India and China, and broad reach around the world," Tata Communications President (Global Data & Mobility Services) Vinod Kumar said.
Beside manufacturing, deceleration was also witnessed in sectors like agriculture, construction and electricity, gas and water supply.
The International Monetary Fund has expressed concern over implementation of "incomplete" value added tax system in developing countries, saying it will reduce the benefits of the new taxation method as it omits service and other vital sectors.
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