In the near-term, we have a cautious view on the broad PSU banks.
Cars and most of the bikes will attract the highest GST rate at 28 percent with a cess between 1-15 percent. We spoke to a few automobile dealers in Delhi and they say the registration process has not been hassle free and a higher tax rate will hurt their sales in the first quarter. CNBC-TV18's Ashpreet Sethi gave us this report.
"If you are left out, you will get another opportunity because the law says anybody who is registered under taxes which are subsumed under GST if they have a valid PAN then they will be given a valid registration," said GSTN Chairman Navin Kumar said.
The industry would stand to gain more if electricity, furnace oil and natural gas could also be considered under the ambit of GST, the industry body said.
As the countdown to India's largest tax reform nears the end, industries across the country are gearing up to embrace the new policy. In our on going coverage of India's preparedness to embrace this new tax regime, we look today at the gems and jewellery sector.
The previously set USD 900 billion goods and services exports target by 2020 now appear increasingly unachievable given still shaky conditions in the world economy
As the economy gears up for the goods and services tax (GST), the sector on our radar today is paints. In an interview to CNBC-TV18, KBS Anand, MD & CEO of Asian Paints spoke about how they are preparing for the GST.
The FY19 growth will be better than FY18 and will hopefully be double digit, said Adi Godrej, Chairman of Godrej Group.
Well ahead of the curve, DHL is planning to invest over USD 100 million in its supply chain operations in India in the next 3 to 4 years to meet the expected increasing demand following the GST implementation.
Several transition issues relating to procedures to be followed on registration, migration, refund, credit for duty paid on stock, etc were discussed in detail during the meeting, which was also attended by Revenue Secretary Hasmukh Adhia.
"Tax base will definitely widen, we cannot give you a calculation at present. After demonetisation, we had done no calculation but today we can tell you that 91 lakh new tax payers have come in since then. Similarly, after GST also the tax base will grow, definitely," he told at an IMC event here.
Existing customers will not have to shell out extra money if they fall within the subscription limit, while for new buyers the software is to cost Rs 18,000 plus taxes for a single user edition.
There are three-four concerns on the GST, one is unleashing of Inspector Raj. To enforce compliance of the provisions, unrestricted powers have been given to inspectors under the garb of anti-profiteering clause.
In an interview with CNBC-TV18's Farah Bookwala Vhora, GoAir's MD & CEO, Wolfgang Prock-Schauer says 14 new aircraft will take wings by March, 2018 as part of its overall fleet expansion target of 144 aircraft. Schauer adds that to fund this massive expansion, the company will be definitely raising capital but its much-awaited IPO is not the only option being considered.
Before purchasing a property, prospective homebuyers visit at least 10 properties on an average.
The cabinet also approved the composition and registration rules under the Haryana Goods and Services Tax Act, 2017 and the delegation of powers of the council of ministers to the chief minister with regard to approval of rules and notifications to be issued under the Act.
Private sector lender HDFC Bank today said it plans to organise 500 awareness workshops on Goods and Services Tax (GST).
On CNBC-TV18's special show, GST Town Hall, Revenue Secretary, Hasmukh Adhia answers various questions regarding the goods and services tax (GST).
A view on Apple's application for tax concessions would be taken up after considering the levels of investments and the benefits that are likely to accrue to the Indian economy, sources said.
The Goods and Services Tax (GST), which is set for July 1 kick-off, will usher in a new system under which there will be one tax on commodities and services across the country.
The flagship company of USD 9 billion JSW Group, JSW Steel is one of the country's leading integrated steel manufacturers with a capacity of 18 million tonnes per annum.
CLSA believes business financials will begin to normalise from the September quarter post GST.
In an interview to CNBC-TV18, Shobhan Mittal, Joint MD of Greenply Industries spoke about the goods and services tax (GST) and their plans in the medium density fiberboard (MDF) segment.
"The present levy is of 28 per cent GST on parts and components of tractors but parts and components of construction equipment, which are close kin to tractors especially under 80 HP, will attract only 18 per cent GST," Tractor Manufacturers Association (TMA) said in a statement.
The fast moving consumer goods (FMCG) industry is gearing up for July 1st. In an interview to CNBC-TV18, Saugata Gupta, MD & CEO of Marico spoke about the goods and services tax (GST) rollout.