'The actual price of petrol is Rs 35 and it jumps to Rs 88 because of government taxes.'
City's alleged breaches stretch from the 2009-10 season to the 2017-18 campaign, the league said on Monday.
The next meeting of the GST Council will be held on September 28-29 in Goa.
India's tax pie seems to have undergone a subtle change with a sharp drop in direct tax collections resulting from a disproportionate impact of the COVID-19 carnage on incomes. The share of indirect taxes, which mainly comprise of levy on goods and services as well as import duty, has risen while that of direct taxes - made up of corporate and personal income tax - has gone down in 2020. In an interview with PTI, finance secretary Ajay Bhushan Pandey said in a pandemic like this where the economy has been impacted, any large scale changes impact direct taxes more severely, whereas indirect tax collection is mostly proportional to business turnover and compliance.
'If petro products are brought into GST, then there will be minor impact on the incidence of tax... and minor impact on prices. The price of petrol, diesel will continue to be driven by global factors'
Food aggregator platform Zomato has discontinued its 10-minute delivery offering, Zomato Instant, as the business has struggled to grow and faces challenges in turning profitable, media reports said. The company has denied these claims, stating that the business is just being rebranded. This comes as the company's CEO Deepinder Goyal announced 800 job vacancies across 5 roles via a Linkedin post.
The Bombay high court on Thursday said the judiciary and agencies like the Reserve Bank of India, the Central Bureau of Investigation and the Enforcement Directorate should act independently, and asked 'what heavens are going to fall' if an interim protection from coercive action is granted for a few days to Nationalist Congress Party leader Eknath Khadse in an alleged land grab case of 2016.
The shortfall in GST compensation payable to states in the current fiscal is estimated at Rs 2.69 lakh crore, of which Rs 1.58 lakh crore would have to be borrowed this year. The Centre expects to collect over Rs 1.11 lakh crore through cess on luxury, demerit and sin goods which will be given to the states to compensate them for the shortfall in revenue arising out of GST implementation. The remaining Rs 1.58 lakh crore would have to be borrowed to meet the promised compensation to states under the Goods and Services Tax (GST) regime.
Zudio was the standout performer as it tapped into the pentup demand in small-town India, at a pace never seen before, notes Indrajit Gupta, co-founder and director, Founding Fuel.
Sports Minister V Abdurahiman said 20 deaths were confirmed on the basis of information from various hospitals where those pulled out from the water and inside the boat were admitted.
According to market experts, the buyers are expected to shell out in the "range of 500 to 600 crore INR" per team in the closed-bid auction for the women's IPL.
The Supreme Court had cancelled 204 such allotments.
Nineteen people have been killed in rain-related incidents in Uttar Pradesh in the past 24 hours, the state relief commissioner's office said Monday evening.
Six more states are set to join the value added tax regime from April
India's recent move to remove additional 'retaliatory' duty on eight products from the United States (US), including apples and walnuts, would not have any negative impact on the domestic producers, the government clarified, even as the issue threatened to snowball into a political slugfest between the ruling and Opposition parties. The move would, in fact, result in competition in the premium market segment, ensuring better quality at better prices for consumers, especially for apples, a senior government official said. "There were certain concerns that were being raised on the mutually agreed solution that has come in, more specific to seven-eight agriculture products where we had levied additional import duties in retaliation to the steel and aluminum measures (imposed by the US)," Peeyush Kumar, additional secretary in the commerce department, told reporters in a briefing.
The tourism industry plays a vital role in the town, accounting for 70 per cent of its economy, according to experts.
The FIR was lodged against food inspector Rajesh Vishwas, Sub-Divisional Officer of Pakhanjore RL Dhivar and Sub-Engineer Chhotelal Dhruv, both from the water resources department, at the Pakhanjore police station based on a complaint of nayab tehsildar (revenue official) of the area, a police official said.
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
On Friday evening, there was sharp spell of shower in Melbourne and repeat of this on Sunday could spell doom for cricket fans.
ACP (North) Anil Kohli breathed his last at the SPS Hospital, Ludhiana, Civil Surgeon Rajesh Bagga said. On Friday, the Punjab government had given its go-ahead to the hospital to conduct plasma therapy on the police officer.
The Bharatiya Janata Party supported the Telangana bill in Rajya Sabha onThursday but sought amendments to ensure the Seemandhra region got justice and a "defective" legislation was not passed.
The PM said the government knew that Sri Lankan nationals who joined the Islamic State had returned, but they could not be arrested as joining a foreign terrorist organisation is not against the law in the island nation.
The discussions are at a very critical stage
Himachal Pradesh Chief Minister Virbhadra Singh said on Saturday the loss to the public and private property due to flash floods in the state could be much higher than the state government's preliminary estimate of around Rs 2,575 crore. He said the detailed estimate of flash floods loss would be assessed after normal life is restored in the entire area.
The broad trends of GST collections will make you wonder if indeed the biggest indirect tax reform in the country has led to a real improvement in revenues, notes A K Bhattacharya.
"At present, there are two main rate slabs under which sa majority of goods are covered -- five per cent and 12.5 per cent -- which will now increase to three (five per cent, 12 per cent and 18 per cent).Will this result in multiple litigations is anybody's guess."
The quality of Indian tea had lately come under scrutiny in major export markets, due to the presence of pesticides and chemicals beyond permissible limits.
'With this revamp the anonymous journey of the user will begin wherein he will not have to sign in every time he accesses the app.'
The average rate of COVID-19 vaccination in the country has been 10.8 million per week. At that rate, it will take India till December 2024 to complete two billion doses.
Ahead of the first meeting of the top decision-making body in nearly eight months, finance ministers of eight states ruled by non-Bharatiya Janata Party and like-minded parties -- Rajasthan, Punjab, Chhattisgarh, Tamil Nadu, Maharashtra, Jharkhand, Kerala and West Bengal -- have devised a joint strategy to press for a zero tax rate on Covid essentials, sources said.
The final rate will be worked out by the GST Council, Finance Minister Arun Jaitley said on Wednesday.
Subramanian recommended five ways of financing additional expenditure over a period of one year, including cutting expenditure and borrowing directly from the RBI or monetising debt.
On October 25, the government issued an ordinance on the denotification. Earlier, in July 2016, it had denotified fruits and vegetables, thereby allowing farmers to sell these to buyers within or outside APMC yards, as they chose
The largest challenge for the gigantic exercise between the Centre and the 29 states was to keep the latter interested over the years.
These stocks offer the best combination of maximum 'buy' recommendations from brokerages and share price upside over the next 12 months.
The S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.3% and 0.5%, respectively
Notwithstanding lower growth rates recorded in the first quarter (Q1) of 2023-24 (FY24), which spanned from April to June, footwear stocks have seen some gains in the past two trading sessions. Bata India saw an increase of approximately 5 per cent, driven by positive expectations surrounding a potential tie-up in the sports/athleisure segment. This development is viewed favourably due to the segment's higher growth rates.
Former Uttarakhand DGP Aloke B Lal on Tuesday said the hurry shown in the demolition of the resort in question in the Ankita Bhandari murder case must have destroyed crucial evidence.
The Supreme Court on Friday paved the way for the reopening of State-owned liquor vends in Tamil Nadu by staying a Madras high court order which had ordered their closure for the time being on the ground that there was violation of guidelines, such as social distancing, meant to contain the COVID-19 pandemic. A bench comprising Justices L Nageswara Rao, S K Kaul and B R Gavai, in the proceedings held through video conferencing, stayed the May 8 order of the high court after taking note of the appeal of state government's firm, Tamil Nadu State Marketing Corporation (TASMAC), which sells alcoholic beverages in the state.
