The panel will decide on matters relating to terms and conditions of the sale from the stage of inviting of expressions of interest (Eols) till inviting of financial bid.
"Within the framework of the GST Act each industry will be entitled to its own refund mechanism during this particular period (March 31, 2027)," he said after the Cabinet meeting headed by Prime Minister Narendra Modi.
Finance Minister Arun Jaitley's fifth Union Budget will sport a different look, starting with a lighter `Part B’ with fewer indirect tax changes because of GST
Finance Minister Jaitley had earlier said that every account named is being probed and that nobody would be punished without a proper process.
The meeting was attended by Commerce and Industry Minister Nirmala Sitharaman, Power Minister Piyush Goyal and senior officials in the Department of Industrial Policy and Promotion (DIPP), sources added.
During the reply, Jaitley said tax authorities are conducting investigations and prosecutions are being launched in cases where documents have been received.
Economic Survey Volume 2 may contain a commentary on farm loan write-offs. It may also argue in favour of sharper interest rate cuts to accelerate growth
Jaitley, while initiating a special debate to mark the 75th anniversary of Quit India Movement launched by Mahatma Gandhi in 1942, said India had faced many challenges over these decades but "we can proudly say the country became stronger with each challenge".
The GST Council, chaired by Finance Minister Arun Jaitley and comprising state counterparts, had in June allowed businesses extended timeline for filing final GST returns in forms GSTR-1, GSTR-2 and GSTR-3 for July and August.
The government's expenditure went up 27 percent in April-June of the current fiscal to over Rs 6.50 lakh crore as a result of Budget advancement by a month, Finance Minister Arun Jaitley said today.
The chapter on `Currency Management’ may include details of banned notes
The Competition Commission of India (CCI), in May, received a complaint alleging cartelisation among banks in respect of providing locker services to customers. "The case has been registered... arraigning 20 banks, including RBI, as opposite parties," the minister said.
Slogan-shouting Congress members trooped into the well even as Leader of the House and Finance Minister Arun Jaitley said the opposition party has been raising “frivolous” issues without giving notices to stall Zero Hour proceedings.
The GST Council, headed by Finance Minister Arun Jaitley comprising representatives from all states, last week decided to tax all job works in the textile sector at 5 per cent.
The Centre will now have to amend the GST (Compensation to State) Act, 2017 to increase the maximum ceiling of cess on big cars
"It has been an extremely smooth turnover without any disruption" the Union Finance Minister told reporters here. He rejected the argument that trade registration under GST was less and said a record number of registrations have taken place.
Jaitley charged the CPI-M with using its cadres to "eliminate its political opponents and creating an environment of violence" and added that the party needed to "introspect".
Jaitely's visit is widely seen as an attempt by the BJP to bring to national focus the issue of alleged increasing attacks on party cadres by the CPI-M.
It will also finalise a mechanism to operationalise the anti-profiteering clause; discuss rates on textiles, ribbons, gas stoves
It will feature four banking stocks -- SBI, Axis Bank, Bank of Baroda and Indian Bank -- other than CPSEs such as Nalco, ONGC, IOC, BPCL and Coal India.
The Council, headed by Finance Minister Arun Jaitley, will also review at its meeting the implementation of the new Goods and Services Tax (GST) regime since July 1 and may finalise a mechanism to operationalise anti-profiteering provision to protect consumer interest.
Finance Minister Arun Jaitley said he will bring their demand to the notice of the GST council, which meets tomorrow.
Replying to a debate on the Banking Regulation (Amendment) Bill, 2017, Jaitley said the Reserve Bank has already identified top 12 loan defaulters and more cases will be taken up by them for resolution.
"Slowly interest rates will become reasonable," he said in the Lok Sabha while replying to a debate on the Banking Regulation (Amendment) Bill, 2017.
The Banking Regulation bill seeks to replace an ordinance which had conferred powers on the Centre to authorise the Reserve Bank of India to issue directions to banks to initiate insolvency proceedings against loan defaulters.