The GST is set to roll out from midnight June 30. A lot of column space has been devoted to its purported benefits for customers and the possible impact on industries and different businesses. Essentially as we understand it, GST is an indirect tax reform that will usher in a uniform tax paying regime. It will be a single tax that everyone from a manufacturer to a consumer will pay. […]
Much has been talked about the Goods and Services tax (GST) implementation starting next month, its impact on industries and how it will benefit the consumer. Just to reiterate, Goods and Services Tax is one indirect tax reform, which will make the country one unified common market for industries to pay taxes. It is a single tax on the supply of goods and services, right from the manufacturer to the […]
The government said on Monday the goods and services tax (GST), scheduled to be rolled out from July 1, was set to benefit consumers, as the tax incidence on smartphones, medical devices and cement would come down. The GST Council, comprising state finance ministers and headed by the Union finance minister, last week finalised the tax on most of the items and services. A smartphone currently attracts two per cent […]
Soon, the economic theory that whatever goods and services are provided –the expense of the same must have been borne by someone, is going to hold true in case of employee-employer CTC agreement. That is, you don’t get anything for free! Come July 1 and leasing of land, renting of buildings as well as EMIs paid for purchase of under-construction houses will start attracting the Goods and Services Tax. There […]
The biggest tax reform in decades – the national Goods and Services Tax or GST – has been thoroughly jeopardized by the centre’s abrupt demonetization drive, said Amit Mitra today. As the Finance Minister of West Bengal, Mr Mitra is on the GST Council, which is drafting the rate and scope of the tax. He told NDTV that the April rollout of the tax seems unfeasible now and he will […]
The Goods and Services Tax (GST) rate will have four brackets – 5, 12, 18 and 28 per cent. Finance Minister Arun Jaitley has said it will be announced later how different items and services will be taxed, but essentials and food will be in the lowest tax slabs while luxury and sin goods like tobacco products will be in the highest and will attract an extra cess. Here is […]
Even as the Government is grappling with the JNU row, am sure the South Block is busy preparing its strategy for the action next week. The Parliament’s Budget session kicks off on February 23. Given the ongoing imbroglio on the JNU issue and the Rohit Vemula suicide case before that even the most optimistic ones amidst the Government machinery cannot pin their hopes on a smooth sailing. If the Monsoon […]
If you have been following the Parliamentary proceedings in the past few years, it would not come as a surprise to you that the 2015 Winter Session of the Parliament saw the least number of bills being passed since 2010. If countries like UK take pride in not wasting a single Parliamentary hour, we in India could perhaps gloat about the exact opposite, of wasting as many hours as possible. […]
