Tag: Arun Jaitley

GST Council’s 9th meet fails to break dual control deadlock

The possibility of implementing the Goods and Services Tax (GST) by the Centre's targeted deadline of April 1, 2017, has receded with the ninth meeting of the GST Council here failing to agree on the contentious issue of administrative control of GST, Kerala Finance Minister Thomas Isaac said on Monday. Emerging from the meeting of...

January 16, 2017

GST Council’s 9th meet fails to break dual control deadlock

The possibility of implementing the Goods and Services Tax (GST) by the Centre's targeted deadline of April 1, 2017, has receded with the ninth meeting of the GST Council here failing to agree on the contentious issue of administrative control of GST, Kerala Finance Minister Thomas Isaac said on Monday. Emerging from the meeting of...

January 16, 2017

Finance minister looks to break deadlock at GST meeting 

Finance Minister Arun Jaitley will on Monday look to break the deadlock over distribution of powers between centre and states to administer GST, an issue that is holding up launch of the new national sales tax from April. The all-powerful GST Council, headed by Jaitley, will meet for the ninth time on Monday with the...

January 15, 2017

Finance minister looks to break deadlock at GST meeting 

Finance Minister Arun Jaitley will on Monday look to break the deadlock over distribution of powers between centre and states to administer GST, an issue that is holding up launch of the new national sales tax from April. The all-powerful GST Council, headed by Jaitley, will meet for the ninth time on Monday with the...

January 15, 2017

Competition between traditional, payments banks imminent: Jaitley

Finance Minister Arun Jaitley on Thursday said the launch of payments bank will now initiate competition between traditional banking and these new banks. "We will see competition not only among telecom companies but between traditional banking and these new banks," Jaitley said here at the launch of Airtel Payments Bank. "Telecom companies have built-in customer...

January 12, 2017

‘Positive impact of demonetisation, GST will be seen this year’

Union Finance Minister Arun Jaitley on Wednesday said the positive impacts of demonetisation and the Goods and Services Tax (GST) will boost the country’s economy and the positive impact will be seen this year. “After transient impact, demonetisation will lead to cleaner and larger GDP. GST coupled with demonetisation will boost growth and the impact...

January 11, 2017

Double-digit increase in tax collection: Jaitley

The currency squeeze in November and December has failed to hit revenue mop up, with direct and indirect tax collection from April to December showing a double-digit increase, Finance Minister Arun Jaitley said on Monday. "Since there has been a considerable debate as to the impact of currency squeeze in November and December, the revenue...

January 9, 2017

Cong responsible for terrorism in Punjab: Jaitley

Union Minister Arun Jaitley on Sunday blamed Congress for the rise of terrorism during the 80s in Punjab and said it was the alliance forged between the SAD and BJP which provided a healing touch to the people of the state. The Congress fought the 1984 elections on the plank of communalism, Jaitley alleged, adding...

January 8, 2017

Money deposited will not change colour automatically: Jaitley

Describing the currency deposited with banks following demonetisation as money that has lost its earlier "anonymity", Union Finance Minister Arun Jaitley on Sunday said such deposits do not automatically become legitimate, and can now be identified with the owner for taxation purposes. "The fact that large quantum of high denominational currency has been deposited with...

January 8, 2017

Demonetisation a historic decision: Arun Jaitley

Finance Minister Arun Jaitley on Saturday termed the November 8 demonetisation as a "historic" and "bold" move towards welfare of the poor, while serving as crippling blow to terror, fake currency note racket, and insurgency. Jaitley, who presented the party's economic resolution in the BJP national executive meet, also said that the demonetisation decision was taken because the Narendra...

January 7, 2017

India better placed amidst fragile world economy: Arun Jaitley

India appears to be much better placed with improved macro-economic fundamentals, as measures to eliminate shadow economy and tax evasion are expected to have positive impact on GDP, the all-powerful FSDC — headed by Finance Minister Arun Jaitley — said on Thursday. The Council, at its 16th meeting, reviewed the major issues and challenges facing...

January 5, 2017

Removal of after assessment by RBI: Jaitley

The RBI will remove restrictions on cash withdrawals after assessing market situation, Finance Minister Arun Jaitley said on Wednesday even as he ruled out interfering with the conditions barring anyone other than NRIs and Indians returning from abroad from depositing the junked notes in select central bank branches. "RBI will decide by assessing market situation....

January 4, 2017

Jaitley hopes to resolve dual control issue in next GST Council meet

Admitting that the Goods and Services Tax (GST) Council was racing against time on its deadline of April 1, Finance Minister Arun Jaitley on Wednesday said it is hoping to resolve the two vexed issues of Integrated GST (iGST) and dual control in its next meeting on January 16. "We know the difficulties, we are...

January 4, 2017

Jaitley to support Modi’s New Year sops

Union Finance Minister Arun Jaitley on Sunday said that his ministry will do its best to support the steps announced by Prime Minister Narendra Modi on the New Year's eve. "I see 2017 as a year whose agenda was set by the Prime Minister last night. Cheaper loans for affordable housing, for women's health, agriculture...

January 1, 2017

India now needs lower level of taxation: Jaitley

Finance Minister Arun Jaitley on Monday said that India now needs to move to a lower level of taxation to be globally competitive. "What you need is lower level of taxation, to provide services more competitive in nature. Competition is not domestic, it is global. This is one important change you will witness while you...

December 26, 2016

Demonetisation is new normal: Jaitley

Demonetisation is the new normal confronting black money which was a norm in India for seven decades, Union Finance Minister Arun Jaitley said on Friday. “Black money has been a norm in India for seven decades, we want to confront it and create a new normal,” Jaitley said at the Hindustan Times Leadership summit here....

December 2, 2016

Lok Sabha passes Income Tax Amendment Bill

The Lok Sabha on Tuesday passed by a voice vote a bill to amend the income tax laws to facilitate levy of 60 per cent tax on undisclosed income or investment or cash credit deposited in banks after the November 8 demonetisation. The bill was passed even as the opposition members protested and raised slogans...

November 29, 2016