The GST rates for all but six items were finalised at the first day of the two-day meeting of the GST Council, headed by Union Finance Minister Arun Jaitley and comprising state representatives.
The ministry is considering as many as 15 options to replace the controversial rule.
Financial shares were among the top Sensex gainers along with auto and pharma shares.
The stock market historically exhibits volatility on Budget day.
Transportation via inland waterways is cost-effective and more environment-friendly than rail or road transportation
There have been demands from a section of stakeholders that the long-term capital gains tax on equities be reimposed.
The tax imposed on buyback of shares and employee stock options is different in case of listed and unlisted companies, says Sudipto Dey
The Nifty has gained 2.6% so far this week, while the Sensex has climbed 2.85%
The challenge is to convince productive sectors that a lower general rate would benefit all and remove the prevalent system of favours targeted towards narrow industry and service sector groups.
Meru Cabs, one of the first radio taxi services in the country, is contesting service tax notices sent to it since 2010 in the Bombay High Court.
The decline was led by index heavyweight Reliance Industries along with ITC and HDFC.
Economists have asked Finance Minister Arun Jaitley to lower interest rate, rationalise subsidies, remove all cess and surcharge, do away with the retrospective tax amendments and scrap dividend distribution tax to revive investment cycle and promote growth.
E-waste accounts for 70 per cent of Indian landfills.
Reeling under a series of derailments, the Budget is likely to announce creation of a separate safety fund of about Rs 1 lakh crore over the next five years.
Road Transport Minister Nitin Gadkari known for promoting innovative ideas in transportation, created a stir some time back when he pitched for 100 per cent electric mobility by 2030. In an interview with Megha Manchanda & Jyoti Mukul, he talks about the Central Road and Infrastructure Fund (CRIF) and electric vehicles.
As per the initial version of the Unified Licence on August 2, DoT had exempted Internet services revenue from adjusted gross revenue -- part of telecom company's earnings on which annual licence fee is levied.
The price of ensuring no disruption after rolling out the GST seems to be an imperfect GST with many relaxations in its compliance norms, says A K Bhattacharya.
Amendments will be tabled in Parliament for approval by Monday or Tuesday.
Earlier, while presenting the Budget on February 1, Finance Minister Arun Jaitley had proposed to cap cash transactions at Rs 300,000 with effect from April 1.
GST will yield 'better value for money' for car buyers, increasing automobile industry demand, says Sandip Neogi.
The failure to reform has meant that there is no buzz about job opportunities, or about urban opportunities enticing young people off the farms. And it is this failure that has contributed to the widespread disappointment that threatens to make the next general elections closer than expected, says Mihir S Sharma.
According to a source close to the development, the government is set to come out with a notification in this regard by the end of this week.
Economy to grow by 7.2-7.5 per cent in second half of current fiscal, says FM.
Is the curated and limited data put out by the central government sufficient enough to pass a judgement on the trend in GST collections, particularly that of the Centre?
Financials were the top losers after sharp gains in the previous session along with ITC
However, independent economists are not as gung-ho as the finance ministry over the likelihood of deficit target being met this time around, says Indivjal Dhasmana.
There will be some populist announcements in Budget.
India's economy grew at a two-year high of 5.7 per cent in the first quarter of this financial year, after a below-five per cent growth in 2012-13 and 2013-14.
Prime Minister Narendra Modi's idea of cooperative federalism is expected to be on display in the 2015-16 Budget.
2015 is going to witness new agreements on climate change.
Airfares are at an all-time low because of fall in crude oil prices.
Akash Jain's tweet about his sister's wedding card, which features the Swachh Bharat logo, was retweeted by the Prime Minister, catapulting Jain to instant fame. And the excitement hasn't quite worn off yet.
'It is only fear and speculation, without much substance, that has led to the fall.'
The S&P BSE Sensex surged 364 points to end at 24,607 and the Nifty50 soared 107 points to close at 7,476.
The 50-share NSE Nifty was trading lower by 24 points.
We should work in unison to boost growth: FM
'To become more Indianised we had to be more colourful,' Rahil Ansari, Audi's India head, tells Ajay Modi.
Maruti Suzuki and Hyundai would make the largest gain.
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
The automatic variant of the SUV is priced at Rs 11.99 lakh
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