The government does not intend to use the “hammer” immediately to pull down prices, leaving it to market forces to guide companies to pass on the benefits of goods and services tax (GST) to consumers. “Competition will force them to fall in line. You don’t have to use the hammer immediately,” a high-ranking officer told TOI, adding that companies and small businesses were themselves passing on the gains with consumers. […]

Prime Minister Narendra Modi quoted Albert Einstein during his speech at the midnight launch of Goods and Services Tax. Mr. Modi said: “Einstein said if there is something in this world that is difficult to understand, it is income tax. I wonder what he would have said on seeing our multiple tax.” So what is the story behind this quote? According to Quote Investigator, a fact-checking blog, Einstein made this […]

The historic GST or goods and services tax has become a reality. The new tax system was launched at a function in Central Hall of Parliament on Friday midnight. GST, which embodies the principle of “one nation, one tax, one market” is aimed at unifying the country’s $2 trillion economy and 1.3 billion people into a common market. Under GST, goods and services fall under five tax categories: 0 per […]

Ranbir Kapoor and Katrina Kaif-starrer Jagga Jasoos is up for a release on July 14. The official trailer of the film just hit the web. Ranbir and Katrina take the viewer on a magical journey. The trailer takes off from the teaser that was released earlier and gives considerable insights into what Jagga Jasoos is all about. Ranbir Kapoor, who plays a teenager with a stammer, is seen singing to […]

India should learn lessons from its defeat in 1962 and stop clamouring for a war, China warned on Thursday, saying the precondition for settling the current stand-off in the Sikkim sector is that New Delhi withdraws its troops immediately. China said its troops were building a road in its own territory and not on land that belonged to Bhutan. People’s Liberation Army (PLA) spokesperson Wu Qian was reacting to Indian […]

Hailed to be one of the four pilgrimages of India – Jagannath Temple of Puri is famous for its years-long spiritual mysteries, sacredness and massive tourists from all parts of the country. Built in the 12th century, the temple is located in the eastern coast of India at Puri, Orissa. Every year, thousands of pilgrims throng to the holy land of Puri to seek blessings of Lord Jagannath, Balabhadra, and […]

What began in March 1986 as an effort to reform indirect taxation is all set to finally reach its fruition on July 1 in the form of the Goods and Services Tax (GST). Initiated by the UPA Finance Ministry in 2009, GST is touted to be the biggest change in tax regime since Independence and purportedly one of the biggest successes of the current NDA government. The GST is an […]

The much-awaited VIP 2 trailer is here, finally, shared by both Dhanush and Kajol on Twitter. “Trailer of a franchise that’s very close to my heart,” Dhanush tweeted while Kajol introduced the trailer, saying: “Being a VIP with Dhanush.” The trailer will prove to be a delightful experience for Dhanush fans, yes, but also for those who are excited about Kajol’s return to Tamil cinema. Kajol makes an entry as […]

Prime Minister Narendra Modi, who is on a two-day official visit to the US, on Sunday addressed the Indian diaspora near here in Virginia. Here are the top quotes of PM Modi at the event: 1. When India talked of terrorism 20 years back, many in the world said its a law and order problem and didn’t understand it. Now terrorists have explained terrorism to them so we don’t have […]

Multilateral trading arrangements under the World Trade Organisation have expanded over time. Yet, the current global trade landscape is characterised by an overwhelming number of regional trading arrangements. The proliferation of regional trading arrangements has been so pervasive that Jagdish Bhagwati calls it a spaghetti bowl. All countries try to tap into emerging markets through trade agreements. One of the strongest emerging markets is the group of nations that comprise […]