Nirmala Sitharaman held a meeting to discuss about enhancing domestic manufacturing and Make in India scheme.
Tag: Goods and Services Tax
Rahul implores Modi to bring petrol, diesel under GST regime
New Delhi: Congress President Rahul Gandhi on Friday once again pleaded with Prime Minister Narendra Modi to bring petrol and diesel under the Goods and Services Tax (GST) regime. Reiterating his year-old request, Gandhi tweeted: “Respected Modiji, the general public is very upset with the skyrocketing prices of petrol and[Read More…]
Government spent Rs 132 crore to spread awareness on GST in ads
The government has spent an alarming amount of Rs 132.38 crore for GST (goods and services tax) advertisements. It was revealed by the Ministry of Information and Broadcasting in a reply to an RTI query. More than 5 crores were spent on advertisements with outdoor media. Bollywood megastar Amitabh Bachchan[Read More…]
Jaitley wins over Piyush Goyal, resumes as Finance Minister today
President Ram Nath Kovind on Thursday directed to assign the portfolios of the Minister of Finance and Minister of Corporate Affairs to Arun Jaitley. Announcing his return, a communique from the Rashtrapati Bhavan read, “The President of India, as advised by the Prime Minister, has directed to assign the portfolios of the Minister of Finance and Minister[Read More…]
Parliament clears 20 bills in Monsoon session
The Monsoon session of Parliament saw 20 bills being passed by the two Houses, out of which 22 were introduced in the Lok Sabha and one in the Rajya Sabha, according to an official release. The 20 bills passed by the two Houses includes four bills related to Goods and Services Tax[Read More…]
GST slabs expected to be reduced to three in long turn, says Sanjeev Sanyal
Kolkata: Principal Economic advisor to the Finance Ministry Sanjeev Sanyal on Saturday said Goods and Services Tax (GST) slabs may be brought down to three along with the exemption category in order to further simplify the country’s tax regime. The lower rate will be five per cent, the middle bracket[Read More…]
GST has become bad word in business: Chidambaram
New Delhi: The Congress on Sunday attacked the Modi government on the first anniversary of the Goods and Services Tax (GST), saying it has become a bad word among business persons. The design, structure, infrastructure backbone, rate or rates and implementation of GST were so flawed that GST has become[Read More…]
Sushil Modi rules out bringing petrol, diesel under GST
New Delhi: GST Council Member and Bihar Deputy Chief Minister Sushil Modi on Friday outright ruled out bringing petroleum products under the ambit of Goods and Services Tax (GST) in near future, citing loss of revenue both to central and state governments. He added there was no consensus in the[Read More…]
One year of GST: Long way to go for a simple, uniform tax regime
New Delhi: Touted as the biggest economic reform since Independence, the Goods and Services Tax (GST) was supposed to replace the complex indirect tax system prevalent in the country with a more simplified, uniform regime. As its roll-out completes one year on June 30, it can be argued that while[Read More…]
With 90% tax on petrol & diesel, bringing them under GST impractical: NITI Aayog Vice Chairman
New Delhi: Petroleum is the taxation milch cow for the central and the state governments and it is unlikely to be brought under the Goods and Services Tax (GST) any time soon. That’s also the view of the Vice Chairman of Niti Aayog, Rajiv Kumar. Several senior ministers have demanded[Read More…]
Indian GST system among most complex globally: World Bank
New Delhi: The Indian Goods and Services Tax (GST) system is among the most complex in the world with not only one of the highest tax rates but also one of the largest number of tax slabs, the World Bank has said. It added that India has the highest standard[Read More…]
Nationwide rollout of inter-state e-Way Bill from April 1: Jaitley
New Delhi: The Goods and Services Tax (GST) Council on Saturday finalised April 1, 2018 for the nationwide mandatory rollout of inter-state e-Way Bill, Finance Minister Arun Jaitley said here. “Intra-state e-Way Bill will be rolled out in phased manner with four groups of states. Each group will come under[Read More…]
Congress FMs expose GST flaws: Chidambaram
Former Union Minister P. Chidambaram on Friday said the letter of finance ministers of Congress-ruled states has exposed the structural flaws in the design and implementation of the Goods and Services Tax (GST). In a series of tweets, he said the letter would set the tone for discussions at the[Read More…]
PM attacks Congress for questioning World Bank ranking
Prime Minister Narendra Modi on Saturday attacked Congress for questioning the World Bank Report on ease of doing business in India and said with GST and other reforms, its report next year would show further improvement in ranking. The Prime Minister said those who had worked with the World Bank[Read More…]
Madras HC dismisses plea seeking ban on Vijay’s Mersal
The Madras High Court on Friday has dismissed a petition seeking a ban on Tamil superstar Vijay’s film, Mersal saying that freedom of expression is for all. The court said Mersal is only a film and not real life. The filmmakers were attacked for “criticising” Centre’s flagship schemes, including the[Read More…]
Govt gets Rs 42,000 crore tax in first filing under GST regime so far
Nearly Rs 42,000 crore has already come in as taxes so far in the first monthly filing under the new Goods and Services Tax (GST) rule. The revenues are expected to increase further as the filing cycle closes this later this week. Reportedly, while about Rs 15,000 crore has come[Read More…]
Ahead of its rollout, BJP Minister unaware of what GST stands for
As the Goods and Services Tax(GST) is all set to rollout on Friday midnight, a minister of the very Bhartiya Janata Party(BJP) is unable to even spell out the full-form of GST. In a talk with the local businessmen, Ramapati Shastri, Minister of Social Welfare and Minister of SC &[Read More…]
PM Modi reviews GST progress ahead of July 1 roll-out
On Monday, Prime Minister Narendra Modi, in view of the Goods and Services Tax (GST) said that the roll-out of the new indirect tax regime from July 1 will be a turning point for the economy. Notably, this was the first PM’s review on the freshly finalised rates by the[Read More…]
Tax Free Wings
Women’s empowerment by far is one the most vexed issues in any nation. However developed or underdeveloped, liberal or conservative a nation may be, the difficulty with empowering women is a challenge that cannot simply be tackled by any government by fiscal and legal provisions like in the case of[Read More…]
GST Bill a law after President Pranab Mukherjee’s assent
President Pranab Mukherjee on Thursday signed the government’s flagship Goods and Services Tax or GST Bill, which will do away with the indirect taxes and usher in one tax for the entire country. With the President’s assent, the constitution amendment act will be notified. Sixteen of the country’s 29 states[Read More…]
Good news for Centre as 11 more states line up to ratify GST
At least 11 states are lining up special legislative sessions to ratify the Goods and Services Tax (GST) Bill. This is good news for the Union government, which is looking to implement the new tax regime by April 1, 2017. A minimum of 16 states need to pass GST before[Read More…]