"Price of Endevour has gone up in the range of Rs 1.2 lakh to Rs 1.8 lakh depending on the variant," a company spokesperson told PTI. The impact on company's other models has not been much, the spokesperson added.
"To be very honest, there has been no effect as such due to GST and it reflects in the numbers. Prior to GST, diners used to be charged 18.5 per cent tax but now it has come down to 18 per cent.
While free gold coins and white goods continue to be offered as free gifts by developers this festive season, the new kid on the block is a GST waiver that has caught the fancy of many real estate developers this Navratras
According to the global financial services major, global investors view India favourably not just for its growth outlook, but also because of its robust/stable macro story reflected in falling inflation and stable currency.
In view of difficulties of online filing, the industry body suggested that "the due dates for filing GSTR-1, GSTR-2 and GSTR-3 should be deferred for another month or two".
The Finance Ministry today said the GST Council is exploring ways to address working capital concerns of exporters. This as the ministry announced its decision to give refund by linking form GSTR 1 with form GSTR 3-B and also instructed central and state authorities to clear pending pre-GST refund claims. CNBC-TV18's Timsy Jaipuria gave us these details.
The decision-making mechanism at the top between the Centre and the states has been "reasonably institutionalised" and the mechanism created to address day-to-day issues is robust, he said.
Karnataka Agriculture Minister Krishna Byre Gowda, who represents Karnataka in the GST Council, said it would start showing results starting from another 15 days going up to November.
Gandhi, who is in the US on a two-week-long tour, during his interaction with students at the prestigious Princeton University said 'Make in India' is a good idea, if implemented well, it is a very powerful idea.
As per the amendments in Hand Book of Procedures (2015- 20), the directorate general of foreign trade (DGFT) said that at the time of exports of gems and jewellery parcel by post, the exporter will have to submit documents including shipping bills or tax invoice as per the GST rules.
This is the second month of return filing under the Goods and Services Tax (GST) regime and similar to last month, businesses thronged the GST Network portal on the last day to pay taxes.
By bringing petrol and diesel under GST regime, the prices of the petroleum products would reduce by nearly 50 per cent, he told reporters here.
Also, the businesses will have to print in indelible ink on containers in which they are selling cereals, pulses, flours that they have voluntarily foregone actionable claim or enforceable right on brands, a finance ministry statement said.
If you are late to file your GST returns, there might be some good news for you soon. The Rajasthan High Court today ruled that no late fee can be charged for filings for the month of July and August. The court also told the government to correct the GST-network glitches as soon as possible.
Out of the Rs 95,000 cr GST revenues in July, more than two third of the amount is up for refund as input tax credit
Businesses have time till midnight to file August returns in GSTR-3B form and the network is geared up to take the load, he said. This is the second month of GSTR-3B filing after the Goods and Services Tax (GST) was rolled out from July 1.
During the meeting the exporters pressed for starting the refund process immediately based on GSTR-1 and GSTR-3B data. While GSTR-3B is the initial simplified returns which businesses have to file, GSTR-1 is the final sales return to be filed every month.
The meeting that will be held will be a video-conferenceing meeting.
The committee will take up the issue of delays in GST refunds to exporters and the resultant shortage in working capital
Pradhan also rejected allegations that the main reason for fuel price hike is the high margins taken out by the oil companies
The Japanese financial services major said that the wider current account deficit in the second quarter and still- elevated trade deficit so far in July-August suggest that the current account deficit is set to widen sharply this year. Nomura expects current account deficit likely at 1.5 per cent of GDP in 2017 but noted that funding will not be a constraint.
"There are two kinds of taxes (on petroleum products). One is the central excise and the other one is state VAT. That is the reason we are expecting uniform tax mechanism from the industry point of view," Pradhan told PTI.
Social capital is "insufficient" in the country and spending on aspects like health and education "is not just desirable for its (India's) own sake, but is also central to economic growth and political stability", it said.
The GST Council had last week decided to form a five-member panel to look into the technical glitches facing the GST network
The Goods and Services Tax (GST) regime, which kicked in from July 1, allows tax credit on stock purchased during the previous tax regime.