About 1.2 trillion tax evasion cases have been detected and as many as 59,000 entities identified for verification in order to ascertain whether they are fake.
Though the intent has been hailed as good for the economy, teething problems remain with a five-rate structure for various goods and services
'Today, after mustering courage, I am resigning from the party post and primary membership of the Congress'
Here are some goods that will be expensive after GST's implementation.
Industry had sought this 3-month extension, specifically for players struggling to collate the information that are required to be disclosed in the GST forms.
This is a moment when the leaders at the Centre and states must show true leadership for the sake of the country. And it is the top political leaders, not attorney generals or bureaucrats, who should be sitting together and settling this thorny issue of compensation, says Arvind Subramanian, former Chief Economic Adviser to the Government of India.
From filing 37 returns a year when the Goods and Sales Tax was first introduced in July last year, the process has undergone major changes as the GST Council considered and implemented various models to ease the pain for assessees. Here's a recap of how the process has changed in 10 months.
The Porsche 911 RS is fast becoming a collector's item among India's high net worth individuals.
Simpler GST structure will be key poll plank, Congress sources tell Archis Mohan.
To shed more light on how GST will affect the individual as well as the nation, Rediff Chat has lined up experts to field your queries.
The old India was economically fragmented. New India will create one tax, one market, one nation, said Jaitley.
The GST will be a national sales tax that will be levied on consumption of goods or use of services
Experts have flagged issues regarding the levying of new cess/tax, especially those related to complications in administering the cess.
"This is completely untrue. Please do not re-circulate such message without checking it with authority," Adhia said.
Gandhi said India has been devastated by demonetisation and the Goods and Services Tax (GST).
It is worth reconsidering if this fascination with either having a single party majority or Modi's leadership or, indeed, both, is such a great idea for India, says Udit Misra.
'GST is imperative for India's success.' 'Without GST India will be a less competitive country.'
After the 2019 election, one thing is sure: GST will see a number of changes, explains Indivjal Dhasmana.
Responding to questions, the World Bank president insisted that this slowdown is temporary.
GST will yield 'better value for money' for car buyers, increasing automobile industry demand, says Sandip Neogi.
A strong proponent of the GST, Adi Godrej has been saying for five years or more that it will add one per cent to India's gross domestic product (GDP).
There is much work to be done to design a good GST.
The IMG meeting will be convened shortly.
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