Finance Ministry has started notifying various provisions of law relating to interest calculation, input tax credit and valuation.
The state of Telangana is all set for the July 1 GST rollout. The Commissioner for Commercial Taxes for Hyderabad, Sandeep Bhatnagar told CNBC-TV18 that the state has conducted over 600 outreach programs to educate small businesses traders about GST regime.
Homebuyers may even decide to wait for real estate projects to get completed to avoid paying GST altogether
GSTN is the IT part of GST and it will conduct all procedural work regarding registration of taxpayers, tax returns and payments.
The constitution amendment bill for rolling out GST was passed in August last year and commodities and services have been divided into four tax slab rates. The launch event is set to be held at Parliament House on June 30.
The rollout of GST will benefit sectors which are reliant on logistics and distribution costs such as the FMCG sector, E-commerce and retail
Property price to fall by around 1% in western/northern markets and around 3% in southern markets after GST, says a report
Though the effect of GST-induced disruptions can't be ignored in the near-term, the Indian textile industry is poised to grow from the long-term benefits that the new legislation offers.
"Despite significant hydropower potential, till now, only 30 per cent of India’s total economically feasible hydropower potential has been harnessed,” the ASSOCHAM-PwC study titled ‘Accelerating hydropower development in India for sustainable energy security’ said.
President Pranab Mukherjee, PM Narendra Modi will deliver speeches, followed by the screening of two short films in the 1:15 hr long event that starts at 11 pm on June 30
The TMC supremo termed the GST roll-out as another "epic blunder" by the Centre.
Cloth markets in major Gujarat cities, including Surat, Ahmedabad, Bhavnagar and Rajkot, remained shut in protest against five per cent GST on textiles.
Patanjali has planned a central warehousing model at the national level so that only 25 percent of the warehouse will remain after the rationalisation process which may help it save costs going forward.
The meeting was attended by secretaries of central government departments and other officers concerned. "Since the request of the applicant is related to the economic interest of the State, the same is exempted from disclosure under Section 8 (1) (a) of the RTI Act," the PMO said in reply to the RTI query filed by a PTI correspondent.
On the second day of the strike, called by the Erode Handloom Cloth Merchants Association, about 3,000 odd textile shops here remained closed. President of the association Ravichandran said the shtudown was total.
GSTN Chief Executive Prakash Kumar said the IT company has taken all necessary precautions to prevent such ransomware attacks and all data are safe. With just two days left for the rollout of the biggest tax reform since Independence, Kumar assured stakeholders full safety of data, saying "there is nothing to worry".
Citi has maintained neutral rating on Havells, given rich multiples, still tepid demand environment, and increasing competitive intensity.
Restaurants that otherwise close at 1.30 am especially on Friday on account of being a good business day, will either shut around 11.30 p.m or take orders only till midnight
The S&P BSE Sensex rose nearly 17 percent while some of the stocks have already more than doubled investors’ wealth in the same period.
In an interview to CNBC-TV18, James Glassman, Senior Economist at JPMorgan shared his readings on India and on global markets.
The programme comprises training on GST rates for beverage categories, understanding the GST credit mechanism, GST compliances and cut off dates as also managing the transition to GST, among others.
The reason they have given is that opposition parties did not like the method of the invite. Sources from Trinamool Congress, the Left, and the Congress told News18 that the letter of invitation by parliamentary affairs minister Ananth Kumar was sent to all MPs individually. The norm, they say, is to address it to party leaders only.
Jain is one of millions of small business owners who face wrenching change from India's biggest tax reform since independence that will unify the country's $2 trillion economy and 1.3 billion people into a common market.
The National Pharmaceutical Pricing Authority (NPPA) said that the actual increase or decrease in prices after the rollout of new indirect tax regime is expected to be in be in the range of 2-3 per cent depending on states.