Under the GST rates announced last week, hybrid cars, which are considered eco-friendly, are slated to attract a 15 per cent cess over and above peak rate of 28 per cent, same as those of large luxury cars and SUVs.
The association has announced a State-wide bandh on May 30 to protest the proposed increase in tax under GST for hotels, which it felt was too high.
According to the global financial services major, notwithstanding the "gradual pace" of recovery on the ground, the government's current measures are steps in the right direction.
Expense ratio is the measure of the cost incurred by an investment company to operate its mutual fund.
The government has proposed to levy 18 per cent tax on telecom services under the Goods and Services Tax (GST) regime.
Public Works minister Naeem Akhtar said the government will bring a special bill in the state Assembly and there will be a comprehensive debate on it by lawmakers regarding imposition of the GST.
The S&P BSE Sensex pared gains in the last two trading sessions and eventually closed in the green largely led by weak global cues.
Exporters fear that the tax refund policy after GST’s rollout will increase their capital cost, locking up large amounts of funds till actual trade takes place
The government's decision to put cinema exhibition industry in the highest tax slab of 28 percent under GST regime along with luxury items will affect quality of contents and growth of multiplex industry, said PVR Chairman and MD Ajay Bijli.
The Centre is pitching for synergy between the bureaucrats at the Centre and the states for a smooth transition to GST.
In an interview to CNBC-TV18, Ashok Goel, VC & MD of Essel Propack spoke about the results and his outlook for the company.
The government is working overtime to roll out the goods and services tax regime from July 1 and has held several workshops and seminars to familiarise traders and the industry about the new indirect taxation structure.
As per the tax slabs decided by the Council last week, the incidence of GST on mid and large-sized hybrid cars has been kept at the same level as passenger cars.
It also said that the Goods and Services Tax will not have an upward impact on inflation. The government finalised a multiple rate tax structure, while an ideal GST would have carried one single rate with very few exemptions, HSBC said.
CBEC chief personally monitoring preparedness; about 400 trade awareness, technical training and GST outreach programmes for tax officials across the country in the next four weeks to ensure a glitch-free rollout
In an interview to CNBC-TV18, Sunil Duggal, CEO of Dabur India spoke about GST and the latest happenings in the company.
Mukesh Aghi, president of US India Business Council (USIBC) - a top American advocacy group representing US business interests in India - said Prime Minister Narendra Modi had demonstrated that he could make "bold" and transformative decisions.
In FY16, when the downturn had hit both the domestic and exports market, Shakti Pumps was operating at 45 percent capacity utilisation. Now, its turnaround story is clearly visible in recent quarters. There is also more headroom in terms of growth and benefits of operating leverage.
Going forward, normal monsoon is expected to provide the requisite boost to demand, while transition to GST regime is likely to create some disruption and impact the short-term sales volume across businesses.
The CM was addressing the state legislators here at a special meeting convened to explain the landmark tax regime and its impact on various sectors.
Some companies were earlier pinning hopes on GST implementation date to be delayed to September 1 and had not yet readied their systems. But with no such relief in sight, they are now even engaging with multiple tax experts to see how their structure for GST can be readied with minimum glitches.
In an interview to CNBC-TV18, Mayur Milak, Senior Research Analyst at IndiaNivesh Securities spoke about the impact of goods and services tax (GST) on airline sector.
The Finance Ministry in a statement said services by way of admission to entertainment events or cinematography films in cinema theatres will attract 28 per cent GST with effect from July 1.
Medicines, excepting the essential ones, could get costlier from July onwards with the roll-out of the Goods and Services Tax (GST).
The Directorate General of GST Intelligence will keep an eye on tax evaders and invoke anti-profiteering measures once GST kicks in.