The Union government is thinking of levying one more cess on incomes of corporate India to help them discharge their duties towards the people belonging to the scheduled casts and the scheduled tribes.
Core sector companies have seen volumes drop to single digit in the first nine months of FY16.
Jaitley increased the excise duty on most tobacco products by 10-15 per cent.
The company aims to follow the government's push for environment-friendly vehicles by driving in models with green technologies.
Bihar Deputy Chief Minister Sushil Kumar Modi said, a hike in GST rates would have hampered consumption amid the economic slowdown. The revenue augmentation panel in the Council meeting recently recommended revisiting and restructuring the GST rate slabs, besides correcting the inverted duty structure. The panel listed 24 items, including mobile phones, footwear, fabrics, LED light, medical equipment, utensils, agri machinery, pharma, and renewable components, which have an inverted duty structure, resulting in refunds of close to Rs 20,000 crore annually.
So far the company has sold about 80,000 units of Honda Amaze and 30,000 units of 4th generation Honda City.
The doubling of Clean Energy Cess from Rs 200 to 400 per tonne would further increase the input cost for domestic producers.
Fire brigade, Mumbai Police and civic officials rushed to the site to carry out the rescue operation.
The government and the farmers must come back to the negotiating table with only the interest of the country in mind, suggests Vivek Gumaste.
This change will come into effect from April 1.
Forty years ago, an individual in the highest tax bracket (above Rs 70,000 per annum) had to pay 70 per cent income tax.
The shortage of skilled workers in India is one of the country's biggest challenges.
The clarification comes amid reports that sweet shops have discontinued chocolate barfis and chocolate sandesh.
The recommendation to slash duty was made by the Bharatiya Janata Party to ease retail prices of petrol and diesel.
The government's predicament is a result of its own doing: That of not ensuring adequate buy-in by the stakeholders before passage of the laws, notes Vivek Gumaste.
Solar equipment manufacturing, however, is unlikely to pick up in India as Chinese imports are more cost-effective
States will have exclusive control over all dealers up to a revenue threshold of Rs 1.5 crore in a year
Automobile dealers' body FADA said the Budget lacked immediate demand boosters for the automobile industry.
The fare will be cheaper as it will be capped at Rs 2,500 per passenger.
The GST Council, headed by Finance Minister Nirmala Sitharaman and comprising representatives of all states and Union territories, will have its 37th meeting in Goa against the backdrop of economic growth hitting a six-year low of 5 per cent in the first quarter of the current fiscal.
According to PRIME Database, there are nine companies with active buyback programmes of Rs 8,605 crore. Among these, Infosys's share repurchase programme is the biggest at Rs 8,260 crore.
Left parties on Monday opposed any increase in petrol and diesel prices in step with the hike in global oil prices and higher taxes, and asked the government to restructure duties to protect the consumers.
The GST Council on Saturday is expected to extend the date for IGST exemption and cess on imports
Yechury said the aim should be how to protect our economy from slowdown
The Congress-led government's common minimum programme, whose finalisation was being expedited, will balance reforms and development so that tough measures like containing the revenue deficit and cut in subsidies become "painless".
'The current budgetary practice of shifting expenditures off-balance sheet in order to be seen to be meeting fiscal targets should be discontinued; additional fiscal stimulus would be imprudent; individual income tax rates should not be cut; GST rates should not be raised now,' advise Arvind Subramanian and Josh Felman.
The Budget would have been the perfect vehicle to introduce some bold initiatives.
That opportunity has been lost through this Budget, observes Shreekant Sambrani.
Retaining the GST rate assumes importance since states are under pressure to increase their revenues, hit hard by lockdown. Also, the Centre has not fully compensated states for their revenue losses on account of GST for 2019-20.
The buoyancy in the tax revenue of GST reflects the upswing in the economy and better compliance
The new government may also introduce a separate scheme for revival of stranded gas-based power projects
The retrospective tax controversy was highlighted by Vodafone, but Cairn Plc's continuing problems point to the impact this law has had on FDI in India's oil and gas sector.
A raise in the I-T exemption limit has been sought by many.
Cable tariffs across the country are set to go up with the TRAI clarifying that operators can hike charges in view of the increase in service tax and the imposition of education cess in Budget.
Check out how much tax will you need to pay now:
The government may soon think in terms of charging soft drink companies and others for extracting groundwater and using it for commercial and industrial purposes.
Govt moots new regional connectivity policy; plans to offer subsidy on non-viable destinations.
Only 69 per cent of the assessees filed returns
The impact of the ban will not be limited to sales.
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