While the tax structure for the goods and services tax (GST) has been announced, the real estate industry is waiting to see which rate is applied to it and the construction industry. Given the R
The central government was required to give 100 percent CST compensation to states up to the year 2010-11; 75 percent for 2011-12 and 50 percent for 2012-13.
In an interview to CNBC-TV18, MS Unnikrishnan, MD of Thermax said that 18 percent goods and services tax (GST) should certainly bring down tax rate.
"We would urge upon the the Union Government to fully compensate the state for the CST loss through adequate provision in the Union Budget 2016-17," Pradip Kumar Amat, Finance Minister of Odisha said during the meeting.
Will implementation of Goods and Services Tax (GST) be a positive or a negative for the mutual fund sector? In CNBC-TV18's special series 'Hello GST', Menaka Doshi analysis the same.
Under this major reform, central and state taxes will get subsumed into GST, which will reduce the multiplicity of taxes, and thus bring down the compliance cost. With GST, the burden of Central Sales Tax (CST) will also be phased out.
As per the the estimates of Empowered Committee of State Finance Ministers, there is an outstanding of Rs 10,797 crore towards Central Sales Tax (CST) compensation for 2010-11 which is yet to the be paid to states.
Government seek cabinet approval to pay state governments the compensation owed on central sales tax.
The Government is targeting a ten-fold increase in software exports at Rs 20 lakh crore by 2020, Union Minister of State for Communications and Information Technology Killi Kruparani said here today.
The government today said it will release Rs 9,000 crore as the first instalment of compensation for losses incurred by states due to reduction in the Central Sales Tax rate, a precondition for the rollout of GST - the indirect taxes regime.
Finance Ministry's move to drastically change the way petrol and diesel are priced may sound the death knell for some of the domestic oil refineries, an industry association has warned.
Finance Minister P Chidambaram today said two committees will be constituted to sort out contentious issues that hamper implementation of the Goods and Services Tax (GST).
States want the central government to resolve the Central Sales Tax (CST) compensation issue before moving ahead with the rollout of the Goods and Service Tax (GST) regime.
CNBC-TV18's Aakansha Sethi explains that the state-governments demanded for compensation from the Centre for a cut in the Central Sales Tax (CST) at a meet in New Delhi on Friday.
The Karnataka government has sanctioned a special incentive package for the third phase expansion and upgradation project of Mangalore Refineries and Petrochemicals Ltd (MRPL), the company said on Wednesday.
Former finance minister and Lok Sabha MP Yashwant Sinha tells CNBC-TV18 in an exclusive, that introducing the changes to the General Anti-Avoidance Rules (GAAR) was a mistake and should not have been included in the Finance Bill.
Given that the Government is struggling with rising fiscal deficit industry is not expecting substantial goodies in the form of tax concessions.