While a task force on direct tax reforms will submit its report by May, the Budget speech may indicate broad pointers of the blueprint
The angel tax rate in India currently stands at a whopping 30 percent, which according to Nasscom has resulted in a 53 percent drop in angel funding during the first half of 2017.
The Goods and Services Tax (GST) collections slipped for the second straight month to Rs 80,808 crore in November, down from over Rs 83,000 crore in the previous month.
The government through GST compensation cess has collected a revenue of Rs 38,073 crore for July-November, Finance Minister Arun Jaitley said in a written reply in the Lok Sabha.
The projections are crucial as the finance ministry prepares Budget estimates for the next financial year (2018-19)
The finance ministry has notified the changes decided by the GST Council, chaired by Union Finance Minister Arun Jaitley and comprising state counterparts, in November 2017.
This relaxation will give an opportunity to businesses to claim tax credit correctly by rectifying the mistakes made initially while computing GST liability.
This can be gauged with the way the Indian markets are priced. With valuations above the long-term averages, it is clear that the market is expecting an uptick in earnings in the short to midterm.
Real estate developers and consultants expect housing sales to improve, although gradually, as prices have become stable after much-needed correction in last few years and interest rates on home loans have softened.
After implementation of the Goods and Services Tax (GST) from July 1, the requirement of carrying e-way bill was postponed pending IT network readiness. This was done even in the 17 states which in the pre-GST era had a well established electronic challan or e-way bill system, a top government official said.
The creation of the GST regime involved merging all indirect taxes into one and also making a conscious effort to not hurt any sector that falls under its ambit.
Speaking on the concluding day of the 11th Global Doctors' Summit here, Naidu said the improvement in India's tax system with the introduction of GST will ultimately benefit its people
DG Safeguards has asked these firms to provide their balance sheet, trial balance and profit and loss account for last one year
Finance Minister Arun Jaitley today dismissed the suggestion that India's growth rate plummeted to an all-time low as "exaggerated", saying that the country has remained the fastest growing economy in the world.
The government has extended the last date for filing of final sales return GSTR-1 by 10 days, until January 10 under the Goods and Services Tax.
The Indian stock market had a healthy 2017, returning upto 29%.
The council, which will meet on January 18, will also look at the provisions for the proposed e-wallet facility to enable speedy refunds to exporters
Moneycontrol brings to you select pictures that grabbed attention in 2017.
In many ways, 2017 was a landmark year for the Indian economy
Garment exporters have been demanding that the duty reimbursement to them be retained at the pre-GST (Goods and Services Tax) drawback rate of 7.5 per cent, amid declining outbound shipments. India's apparel exports declined 39 per cent in value terms in October.
While demonetisation helped drive digital adoption for financial tech firms in 2017, GST implementation helped spawn companies in the accounting software space.
The year 2017 started on a mixed note with the bullish outcome of the annual Bengal Global Business Summit and prolonged strike taking a toll on the tea industry.
Addressing the issue of Triple Talaq, he appealed the opposition to help pass the Bill in the Parliament
In an interview to CNBC-TV18's Shereen Bhan, Mauvin Godinho, Member of the GST Council and Suresh Rohira of Grant Thornton shared their views on the GST and the current sentiment surrounding it.
The revenue number for November indicates collection as of December 25.