The industry experienced new pressures on its operating margins and sales in the wake of increasing input costs and new excise regime. For the domestic spirits manufacturing industry, the cost of raw materials such as molasses doubled since March. Packaging costs rose by 15-20 per cent. The widening of services tax resulted in 50 per cent new services to be taxed at 12.36 per cent. Besides an increase in labour costs, inflation also played havoc with the operating margins.
GST will yield 'better value for money' for car buyers, increasing automobile industry demand, says Sandip Neogi.
All goods and services have been put in slabs of 5%, 12%, 18% and 28%
Nearly 100 foreign funds have been asked to cough up an estimated $5-6 bn.
EEE continues for PF, life insurance and NPS; capital gains from stocks, equity funds may become a part of ordinary income.
The passage of the bill will pave the way for setting up of a GST council that will decide the tax rate, cess and surcharges.
The income-tax department may make a permanent account number (PAN) mandatory for cryptocurrency investors, in line with the demat account rules for stock market transactions, according to two people privy to the discussion. At present, disclosure of crypto holdings and related gains is voluntary. If tax authorities go ahead with the PAN mandate, crypto exchanges will have to furnish a statement of financial transactions (SFT) before the income-tax department.
ITC was the top laggard in the Sensex pack, tanking 6.97 per cent, followed by L&T, HDFC, SBI, ONGC, ICICI Bank and IndusInd Bank.
Telcos propose licence regime for apps like WhatsApp, Skype.
She has shown shrewdness, sensitivity, and courage. All of these will be needed in ample quantities for the real challenge that will emerge after the elections, notes Shreekant Sambrani.
In a string of tweets and replies, Swamy also said that GST can be implemented only if the Supreme Court clears a petition on levy of entry tax
GST mop-up likely to fall in May, June after touching record levels in April and March.
