BJP leader L K Advani said the NDA's boycott of Parliament was also to protest against the Centre's 'negative' attitude towards the opposition.
Revised draft model Bill clearly says an agriculturist for the purpose of agriculture won't be liable for registration under GST.
'It has been an ongoing process, talking to the relevant ministries about eliminating leakages and curbing non-core expenditure in various schemes.'
The Finance Bill, 2007, has proposed tougher measures against tax evasion by tightening penalty provisions.
Banks may become more cautious in extending loans, as more and more farmers may take loans, relying on the assurance that a debt relief commission will back them in the event of default.
For starters, the application to the commission will have to be made together with the payment of the tax liability. The application can be made only before the assessment officer has completed proceedings, and not after.
The joint drafting committee on the Lokpal Bill met in New Delhi on Tuesday for the last time amid "fresh and serious" differences between the government and Anna Hazare team.
Abolition of CST will pave the way for an integrated Goods and Services Tax (GST) which will be introduced by April 1, 2010, Finance Minister P Chidambaram said.
Kumaraswamy's father HD Deve Gowda also downplayed GT Devegowda's comment.
While going back to the old bill is only a face saver, there is little in the bill that will excite industry or the markets, says Shishir Asthana.
Currently, the select committee is considering the Bill.
A new Lokpal Bill will be introduced in the Lok Sabha on Thursday and the existing one withdrawn.
Food subsidy bill rises 20% in April-January
Under the Goods and Services Tax, effective midnight of June 30, most of the financial services would attract a higher tax of 18 per cent as against 15 per cent as of now.
There will be a lot to repair and rejuvenate -- if that opportunity even presents itself, warns Rathin Roy.
Time is running out for a hapless UPA govt over the Telangana bill, and the latest observation by the Rajya Sabha secretariat -- that the bill has financial implications and so must be introduced and passed in the Lok Sabha first -- has only worsened the crisis for the ruling alliance. Anita Katyal reports.
The Reserve Bank of India (RBI) announced new rules for credit cards, applicable from July 1. "These directions cover the general and conduct regulations relating to credit, debit and co-branded cards which shall be read along with prudential, payment and technology & cyber security related directions applicable to credit, debit and co-branded cards, as issued by the Reserve Bank," the circular by RBI said. Business Standard culled out key rules from the list, and asked financial experts for advice on them, along with the thumb rules one needs to follow while using credit cards.
The government will push for the passage of a long-pending bill to provide statutory status to the Unique Identification Authority of India in the winter session of Parliament.
As and when the GST comes in, Budget projections will have to be unbundled and revised. In fact, the pragmatic decision would be to present another Budget! This makes the passage of the Finance Bill with its multiple unrelated amendments seem even more dubious, says Devangshu Datta.
Here's how to get out of this situation without hurting your CIBIL score.
Select committees on Mines and Minerals Amendment Bill and Coal Mines Bill recommended their approval without any change
