Analysts believe the GST could boost India's economic growth by up to 2 percentage points
The tax, in lieu of local levies, will be imposed at the first point of a financial transaction.
According to official statistics, half of India's GDP comes from as many as 420 million workers in the unorganised sector including street vendors, rickshaw pullers, construction workers, rag pickers, agricultural workers, among others. This massive workforce remains outside the purview of the formal banking and insurance industries.
Debt returns are always negative for investors in India, unless they are willing to take huge risk
Maruti being the market leader with a disproportionately high share of the passenger car market helped its component makers grow as an industry all these years and hence, the exit from a segment is a jolt if not a big setback.
'In restaurants, the waiter takes your card and then comes back with the machine. Don't allow that.' 'Let him come to you with the machine and then enter the card and the PIN yourself.'
Slowdown in industrial production notwithstanding, a marginal increase in inflation raised the clamour for another round of rate cut by the Reserve Bank on April 4 to boost economic activity.
Players such as Kidaara, True North, and Multiples Alternate Asset Management move outside the confines of just being a family-style financial office and become a true PE heavyweight.
You can carry forward losses and revise the returns umpteen times in case of mistakes.
Overseas funds have been spooked by several policy measures taken by the government in the past few years
Despite a temporary relief, foreign investors still see the sword of double-taxation hanging above their hard earned returns.
Despite a steady collection rate, the government faces a steep Budget target of Rs 6.1 trillion for CGST for 2019-20.
'When a gift is received in cash, it is likely to be questioned, and your father may need to explain its source.'
The recommendation, if implemented, is likely to face opposition from the government's key support base among Hindu traders and businesspersons.
The benchmark Indian crude oil basket is now estimated to average $77.88 a barrel for FY19, compared to the government's earlier estimate of $65 a barrel for the year and $56.39 for FY18
If you are merely letting out the property and enjoying the rent as an individual or as a company, in most cases, you will need to mention rental income under the head 'income from house property' in the income-tax return form, points out Tinesh Bhasin.
The total revenue earned by central government and state governments after regular settlement in December was Rs 43,851 crore for CGST and Rs 46,252 crore for SGST.
The problem, say experts, is not so much the use of plastic as the lack of effort to recycle and reuse it.
From a commercial standpoint, reducing the price of each SKU, particularly with a small MRP (Rs 5 or below) is often a challenge, including availability of legal tender below Re 1
In a major reform push, government on Thursday approved 100 per cent foreign direct investment (FDI) in the telecom sector, meeting a key demand of the fund-starved industry.
In this Budget, too, there were a number of measures aimed at plugging tax leakages and ensuring greater compliance, says Sanjay Kumar Singh.
Like everything else, the structure of banks may change, and banks may depend more on digital technologies and artificial intelligence for dealing with both their customers and employees.
The collections stood at Rs 98,202 crore in the month, against Rs 1.02 trillion in July. The figures indicate continuation of economic slow down which was reflected in the gross domestic product (GDP) growth which plummeted to a 25-quarter low of 5 per cent in the first quarter of 2019-20, experts said.
Rationalisation of rates will be taken up for smaller items that do not have major revenue implications but are commonly consumed at the GST Council meet on Saturday
The move will help address apprehensions as well as potential disputes on various computational and transitional issues such as the loss of input credits and pricing that were bound to arise on account of the change.
The case relates roughly to assessment years 2000-01 to 2002-03 and 2004-05 to 2007-08
By November 3, only 17,000 applications with tax payable amounting to Rs 1,100 crore have been received by the government, under the Sabka Vishwas Legacy Dispute Resolution Scheme. The scheme gives a deep discount of 70 per cent for cases pending appeal where tax demand is more than Rs 50 lakh, and 50 per cent waiver beyond that amount.
They are evaluating realignment of warehouses and supply chains, besides exploring locations to set up hubs and shutting down some distribution centres
Right now, the 'Lower D' or LD segment -- which the industry defines as a sedan that costs between Rs 1.5 million and Rs 2 million, is longer than 4.5 metres, and powered by an engine of 1.8 litre or larger -- has barely three cars, all of which have been around for over a decade in India. Nevertheless, at least one foreign auto player is looking to bet big on the segment.
If you were deputed abroad, filing income tax can be tricky.
The focus will be on tackling the unfinished agenda requiring immediate attention like tax structure for solar projects, uniform tax rate on state-organised and state-authorised lotteries, taxing non-potable alcohol besides certain changes in the law, extension for NAA and rate rationalisation.
The point to note is that since the new rebate is up to a taxable income of Rs 5 lakh, if anyone earns even little more (say, even Rs 100 more) than this amount, he would have to pay all the taxes, according to the existing slabs.
If advance tax revenue fails to meet the expected growth, these PSUs could be asked to pay taxes on past demands raised against them.
Slight recovery in growth is expected only in July-September.
Can Nestle go beyond Maggi? While recovery in the March quarter has been led by the popular noodle brand, the company hopes for a different revenue mix in five years.
After the IT giant declared a bonus, investors selling shares may have to shell out 4-5 times more tax
The new penalty regime could create a fresh set of complications for tax payers.
Additional solicitor-general says extra-neutral alcohol liable to new tax
Centre meets target of 18,000 villages but household metering remains a challenge
The GST bill's draft says tax would be levied on Maximum Retail Price
