Tata Starbucks had hiked the base price of one its coffee variant after the GST Council cut tax rates on restaurants from 18 per cent to 5 per cent with effect from November 15, 2017.
One of the grey areas is whether the anti-profiteering provisions can provide for a comparison of tax rates between the pre-GST and post-GST eras, says Niraj Bagri.
...for others it would be an incentive to participate more robustly in equities and other tax instruments.
Bihar Deputy Chief Minister Sushil Kumar Modi said, a hike in GST rates would have hampered consumption amid the economic slowdown. The revenue augmentation panel in the Council meeting recently recommended revisiting and restructuring the GST rate slabs, besides correcting the inverted duty structure. The panel listed 24 items, including mobile phones, footwear, fabrics, LED light, medical equipment, utensils, agri machinery, pharma, and renewable components, which have an inverted duty structure, resulting in refunds of close to Rs 20,000 crore annually.
Roland Folger, managing director and chief executive officer at Mercedes Benz India calls the calendar year (CY) 2016 a year of 'lost opportunities' as NCR diesel ban and demonetisation led to a flat performance.
'In practice, GST will increase the pain of compliance, if not the cost, a lot.' 'It also has clauses that offer scope to create a single market for corruption,' warns Devangshu Datta.
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.
The comments from Das assume importance as the government for two consecutive terms have missed its fiscal deficit targets by 10 bps
Vegetable prices which had witnessed a 21.16 per cent contraction in June, shot up by 21.95 per cent in July.
In fuel and power segment, inflation saw a sharp surge to a near double digit inflation at 9.99 per cent, against 4.37 per cent in July.
In a Facebook post on the second anniversary of demonetisation, Jaitley said in first four years of the National Democratic Alliance government, the number of income tax returns filers has gone up to 6.86 crore from 3.8 crore in May 2014.
The domestic luxury car segment is a key beneficiary of GST within the automobile space as prices are set to come down by up to ten per cent in most cases. Roland Folger, MD & CEO, Mercedes Benz India, speaks to Shubham Parashar on the significance of these changes on the industry and other issues.
This could be the first instance when a consumer goods company would move court against NAA. The confrontation began after the government cut tax rates on over 175 items like toothpaste, shampoo, shaving cream and washing powder to 18 per cent from 28 per cent.
The council decided not to levy any additional tax on small petrol and diesel cars of up to 1200 cc as well as on hybrid ones.
"This is completely untrue. Please do not re-circulate such message without checking it with authority," Adhia said.
At present, except Trai, all regulators and the Competition Commission of India (CCI) have powers to levy penalty in case of violation of any rule or law. The GST anti-profiteering authority will be the only institution which will not have the same.
Growth was primarily pushed by a jump in steel and electricity generation, apart from a sustained rise in natural gas output.
A slowdown in India's growth rate, the bank said, has also affected the growth rate of South Asia. As a result, South Asia has fallen to second place after East Asia and the Pacific.
As per practice a vote-on-account or approval for essential government spending for a limited period is taken in the election year and a full-fledged budget presented by the new government.
Dosa batter, custard powder, kitchen lighter may become cheaper under GST
The breadth, indicating strength of the market was strong
Beside flying squads from RTOs at different points on highways, challans are imposed without any reason. The situation is especially difficult in states like Uttar Pradesh, Rajasthan, Madhya Pradesh, Maharashtra, Gujarat, and Andhra Pradesh.
Sector analysts opined that the northern, central and eastern markets were particularly hit
The cess collected on cars as also tobacco and coal will be used to compensate the revenue loss of states by implementing GST.
'GST is imperative for India's success.' 'Without GST India will be a less competitive country.'
The deficit for the first five months of the year stood at 96 per cent of the full-year target of Rs 5.46 lakh crore despite cut in capital expenditure in August.
'If my understanding is correct, one has to file not less than 37 returns per year for every ordinary business, and that too per state.' 'If you are doing businesses in Chennai, Bangalore and Hyderabad, you have to file 37x3 returns every year!' 'The consequence of GST will be chaos, confusion and possibly economic crisis.'
The opposition parties vehemently criticised the new 'one nation, one tax' system having four different rates instead of a single rate adopted in some countries including the UK and Singapore.
It was better to first build a single-rate GST with a low rate, achieve full mastery of this, and then consider more complex possibilities such as high rates and multiple rates.
Many consumer good companies say they will pass on the benefits to consumers, which will bring down prices.
These consistent performers are expected to maintain momentum.
BSE Auto index fell over 0.5% after reports that automobiles might get costlier post GST
What's the real reason behind ATMs running dry even in states that are not election-bound, wonders Nivedita Mookerji.
Good monsoon, farm loan waiver -- the two key reasons behind more customers in jewellery shops
India has been able to attract 40 global smartphone makers to the country -- creating at least 50,000 jobs. But GST could hurt that, discovers Ayan Pramanik.
The Budget may see new rural schemes and stepping up of funding towards existing programmes like MNREGA, rural housing, irrigation projects and crop insurance.
GST will yield 'better value for money' for car buyers, increasing automobile industry demand, says Sandip Neogi.
Mid- and small-cap companies seem to have done better than top-tier companies
GST will make it easier for governments to spend more, says T C A Srinivasa Raghavan.
It's an undeniable fact that after enactment of GST, buying insurance will become a little expensive impacting your term plans, health plans and motor insurance plans the most. But you should not ignore the importance of insuring your life, health, vehicle, says Harjot Singh Narula
