The buoyancy in the tax revenue of GST reflects the upswing in the economy and better compliance
E-way bill generation, which is related to paying Goods and Services Tax (GST) and a key high-frequency indicator of economic activity, may have fallen to a five-month low in April as more cities experience lockdowns due to a surge in Covid-19 cases. In April e-way bill generation may decline to 55-58 million, which is the lowest since at least November. On the higher side, it is a 17 per cent decline over March.
GST is a landmark reform considering the sweeping changes it brings about in the indirect tax regime in India.
A reading above 50 indicates expansion, while a score below this mark means contraction
Maruti Udyog Managing Director Jagdish Khattar on Wednesday said that antiquated laws, poor infrastructure and high tax regimes were preventing India from becoming a global hub for manufacturing small cars.
As per norms, the returns have to be filed online on www.aces.gov.in.
Revenue buoyancy of GST will be key to improve the resource position of both central and state governments.
The new tax regime has also been fuelling sale of SUVs, particularly the compact SUVs
Nasscom president said moving from single to multiple points could be a challenge from the point of view of ease of doing business
Understanding how money works is the first step toward making your money work for you, says Harshad Chetanwala, co-founder MyWealthGrowth.
The ruling mean FPIs cannot seek treaty protection against the new withholding tax that companies are required to deduct at source. The apex court order pertains to when the cricketing bodies of Pakistan, India, and Sri Lanka formed a joint committee to conduct the 1996 Cricket World Cup.
Union Finance Minister Nirmala Sitharaman on Tuesday said the mass consumption items such as pulses, wheat, rice, flour, and curd will not attract the 5 per cent goods and services tax (GST) when sold loose, and not pre-packed or pre-labelled. The clarification came amid protests and widespread criticism by Opposition Members of Parliament over foisting GST on daily-use essentials and subsequent price rise. The all-powerful GST Council, chaired by the Union minister, had last month decided to impose GST on some mass consumption items to simplify the rate structure, which came into effect on Monday.
Know what terms like anti-profiteering, CGST, SGST, IGST means in the new regime
The new tax regime has got a lot of investors thinking on whether they should realign their 'tax saving' investment portfolio in favour of mutual funds.
'Till today, we don't know how many people died of Covid in India.' 'How many migrated from cities to villages during the Covid pandemic?' 'How many corporates contributed to PM Cares?'
The GST will be a national sales tax that will be levied on consumption of goods or use of services
Modi told the probationers to have a 'sensitive' and 'humane' approach to the job.
The much-awaited introduction of value added tax regime from April one this year will be delayed by a few days because of some "unavoidable procedural tangles".
GST making you anxious? Here is a fact-check on how new tax will impact you.
The GST, an indirect tax regime, is to be rolled out from April 2016.
Room for rise of up to 2 percentage points, move to help meet higher expenditure need in FY17
Crorepatis' income rose by a staggering 40% between 2015-2016 and 2017-2018.
The Deutsche report said though India must move to a GST regime, the transition is likely to be disruptive for large sections of the economy and SMEs
Industrial output rose to nearly three-year high of 6.4% in August.
Lower crude oil costs and higher marketing margins are expected to raise the fortunes of oil marketing companies (OMCs) in the first quarter (Q1) of 2023-24 (FY24), while city gas distribution (CGD) companies could also benefit from lower spot prices of liquefied natural gas (LNG). However, in a break from the past, growth trends are expected to diverge for various segments within the broad energy sector. Analysts expect the earnings from gas production to go down for upstream national oil and gas companies such as Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) due to the introduction of the new domestic gas pricing regime on April 1. After showing steep losses over the first half of 2022-23 (FY23), the marketing margins of OMCs have steadily recovered in four months.
Stresses on need to boost investor sentiment through stable regulation.
The combined share of customs and excise duties, service tax, and value-added tax in India's gross domestic product reached an all-time high of 10.5%.
Fast-moving consumer goods companies have begun assessing the impact of the rate structure declared on Thursday under the goods and services tax.
Officers from various departments including the finance ministry to be part of rehearsal event
The faceless authority has suggested a host of changes in the assessment process following conflicts and practical difficulties raised by taxpayers since the new regime was introduced. On August 3, the National Faceless Assessment Centre issued a set of standard operating procedures (SOPs) to address several anomalies in the regime. The faceless centre, constituted by the Central Board of Direct Taxes, is the nodal authority and works as an interface for the faceless regime.
GST impact: Higher lease payouts may hit airlines, cab aggregators.
"There will be some challenges" in the switchover to GST in the short term, Finance Minister Arun Jaitley has warned.
A task force set up by the heavy industry department will examine the definition of "small car" and suggest ways, including changes in the fiscal policy, to turn India into a manufacturing hub for such cars.\n\n
E-proceeding of tax scrutiny has certain technical and practical issues which need to be addressed before making the system fully electronically driven.
