The legal cigarette industry has witnessed a 25 percent decline in volumes from FY 2012-13, said ITC.
The incident occurred when the woman was tricked by a person into paying the sum for the receipt of a parcel that she believed to be of gold ornaments.
Ambiguous rules under the new, multi-rate sales tax that went into effect on July 1 have left firms confused on how to price their products. The tax's complex structure - four main rates ranging from 5 to 28 percent - has hurt sales and risks denting economic growth and government revenues in the months ahead.
The nation readies for a new tryst with destiny. Starting a journey of a new economic regime, this tryst with Goods and Service Tax (GST) – billed as the single biggest tax reform undertaken since independence - aims to free us from the shackles of nearly 500 different kinds of taxes and lead to a unified common market across India. One Nation, One Tax, One Market – this vision of GST captures succinctly what the government seeks to achieve.
After over a decade of back and forth, the goods and services tax became a reality on the July 1. India's biggest tax reform since independence subsumed more than a dozen taxes in the country. We are nearing the one month milestone of the GST rollout and today we take stock of the hits and misses in this first month.
Out of the additional spend of Rs 11,166.18 crore, a total amount of Rs 7,000 crore has been granted to Ministry of Petroleum and Natural Gas, towards payment of differential royalty to state governments
Finding globally compatible harmonized system nomenclature (HSN) code for taxation under GST proving difficult for some typical Indian items
Under GST, working capital management could be an issue for MSMEs in the coming months, as public banks are reeling under the pressure of bad loans, and they will be more reluctant to give credit
The first batch of supplementary demands for grants for 2017-18 include 61 grants and 3 appropriations, according to the supplementary demands for grants. "Approval of the Parliament is sought to authorise gross additional expenditure of Rs 11,166.18 crore.
In an interview to CNBC-TV18, Mihir Modi, Chief Finance & Strategy Officer at Zee Entertainment spoke about the results and gave his outlook for the company.
The proposed anti-profiteering authority under the new GST regime will take up for scrutiny only those cases that have mass impact.
The help desk is driven by the largest pool of indirect tax professionals including over 800 GST practitioners across 14 cities
A German research firm GfK found that smartphone demand in India remained resilient in 2017, having levelled out slightly to 14 per cent year-on-year.
There is a strong resistance around 10,100 levels which will act as stiff resistance for the market and to avoid getting caught on the wrong side of the trade, investors should book profits at current levels.
The need for both large and small companies to be GST-compliant has given a huge boost to the fintech sector
Recently, prices of the model were slashed in the range of Rs 5,200-29,500 depending on state and variant to pass on benefits of reduced tax after GST implementation. The car is now available at a starting price of Rs 2.62 lakh (ex-showroom Delhi).
"Gradually, Uttar Pradesh will be giving tough fight to developed states like Gujarat and Maharashtra. And, I am confident enough that we will be able to bring investments in the state in an year's time, which was together brought in the last five years," UP Industrial Development Minister Satish Mahana told PTI in an interview.
The Dun and Bradstreet Composite Business Optimism Index stood at 72.1 during July-September of 2017, down 13.3 per cent from the same period last year.
The 125 crore people of the country knew that soft decisions in economic policies aimed at winning polls would not do the country any good, he said.
"GST is positive for the industry. With affordable housing and focus on smart city projects, the industry is expected to grow at six to nine per cent this year against three to five per cent last year," Kajaria Ceramics chairman and managing director Ashok Kajaria said.
It will stage demonstrations at all the 42 major markets across Delhi to "raise awareness on the adverse effects" of the Goods and Services Tax (GST) on the people, Delhi Congress chief Ajay Maken said at a press conference.
Part of the Swiss cement giant LafargeHolcim, the company had reported a net profit of Rs 642.11 crore during the same period of the previous fiscal, Ambuja Cements said in a BSE filing.
"The remedial actions triggered by the USFDA observations are unmistakably beneficial to us in the long run and it has helped us accelerate the pace of quality reforms across our plants. We believe that the shift in the US regulator's approach from 'what has gone wrong' to 'what can go wrong' is for the long term good of the industry," Dr Reddy's Labs Chairman K Satish Reddy said in the company's annual report.
Speaking at 'Veopari Sammelan' here in the home constituency of Chief Minister Manohar Lal Khattar, Hooda noted that in the name of 'One Nation, One Tax', the present GST brought by the BJP was "extremely tedious" with seven-tier tax structure.
The company reasoned that "better treatment" in terms of taxation could lead to growth of luxury car segment in the country.