Tag: GST
17 Results
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Delhi assembly ratifies GST bill
The Delhi assembly on Wednesday ratified the Goods and Services Tax bill with Deputy Chief Minister Manish Sisodia stating that it was the biggest tax reform in India. “We support it. We support tax reform. Delhi is a service state and it (the bill) is quite useful,” Sisodia said in reply to a debate on …
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August 24, 2016 -
GST rate on processed foods should be low or zero: CII
The rate of GST on processed foods should be kept low or at zero as the country cannot afford to have high taxes, with food inflation already over 6 per cent, industry body CII said on Wednesday. There should be a parity in taxes between processed and unprocessed food products, otherwise the very benefit of …
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August 24, 2016 -
‘GST will have inflationary pressure on tea’
Implementation of the Goods and Services Tax (GST) regime will have an inflationary impact leading to increase in tea prices, Tata Global Beverages’ Chairman Cyrus P. Mistry said on Wednesday. "GST will have an inflationary impact on the prices of tea, but this will be across the board," he said while responding to a query …
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August 24, 2016 -
President lauds Look East, Act East policies, GST
President Pranab Mukherjee on Tuesday lauded the Centre’s Look East and Act East policies, saying these would open up new areas of opportunities and new markets in ASEAN nations and some other countries, and will benefit entrepreneurs of Eastern India. Besides, the recently passed GST Bill would ensure that transition cost and double taxation are …
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August 23, 2016 -
18% GST rate would be revenue neutral: CII President
The rate of Goods and Services Tax (GST) at 18 per cent would be "revenue neutral", CII president Naushad Forbes said on Tuesday. "The maximum rate around 18 percent would be fine. The intension of GST is not to either increase or decrease the total amount of taxes collected from goods and services transaction. "GST rate …
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August 23, 2016 -
Gujarat, Chhattisgarh to hold special sessions on GST
Following in the footsteps of Assam, two more Bharatiya Janata Party (BJP) ruled states—Gujarat and Chhattisgarh are set to ratify the constitutional amendment bill on GST, officials said on Sunday. The assemblies of both the states will hold special sessions on Monday to ratify constitutional amendment bill on the Goods and Services Tax (GST), officials …
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August 21, 2016 -
‘Will ensure inflation does not cross 6% post GST’
All the efforts will be to make sure inflation rate does not cross 6 per cent level after GST is rolled out, Union minister of State for Finance Arjun Ram Meghwal on Saturday said. "We have targeted to implement GST from April 1, 2017, all over the country. Looking at the concerns on inflation as …
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August 20, 2016 -
Moderate taxes and high evasions can’t coexist: Jaitley
Amid intense speculation over the rate of Goods and Services Tax (GST), Finance Minister Arun Jaitley on Saturday said moderate taxes and high evasions cannot coexist. "If all taxpayers pay their taxes, it will help bring in tax rates further low. The more the evasions and exemptions, the higher will be the tax rate. So, …
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August 20, 2016 -
Indian industry chambers worry over GST
Indian industry chambers on Friday raised concerns on the draft Goods and Services Tax (GST) law at a meeting here with Revenue Secretary Hasmukh Adhia, flagging issues like dual administrative control vested and wide discretionary powers for tax authorities. "Provisions may lead to unwarranted disputes in future so it requested to give a re-look the …
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August 19, 2016 -
Centre to bring legislative changes in SEZ, FTA acts
The Union Ministry of Commerce is taking up initiatives to bring suitable legislative changes in the SEZ and Foreign Trade Act (FTA) to make them consistent with the Goods and Services Tax (GST) regime, a top official said on Friday. The Ministry will also modify schemes of Directorate General of Foreign Trade (DGFT) to make …
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August 19, 2016 -
GST a legislative accomplishment by Modi: US expert
The landmark Goods and Services Tax (GST) bill passed by Parliament recently is a legislative accomplishment by Prime Minister Narendra Modi which even his harshest critics cannot not dismiss, a top US expert has said. "Modi, stung by the criticism that his government has not done enough to reshape India’s economic landscape, has notched a …
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August 19, 2016 -
GST will strengthen economy, thank all parties: Modi
Prime Minister Narendra Modi on Monday said the pan-India Goods and Services (GST) tax regime will strengthen the Indian economy and thanked all political parties for the passage of the relevant bill to initiate the process. "GST will give strength to our economy. All parties are to be thanked for its passage," Modi said in …
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August 15, 2016 -
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GST ties up cotton-based textile value chain in knots: ICRA
GST ties up cotton-based textile value chain in knots: ICRA
August 11, 2016 -
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Govt to launch programme to address traders concerns on GST
Govt to launch programme to address traders concerns on GST
August 9, 2016 -
GST will weaken states vis-a-vis Centre: Tripura Chief Minister
GST will weaken states vis-a-vis Centre: Tripura Chief Minister
August 9, 2016