A lower VAT on ATF for small planes is crucial for the success of the government's regional connectivity scheme that aims to make flying affordable for people living in cities with airports that are unserved or under-served
The station, which was named after Lord Elphinstone, the Governor of Bombay Presidency from 1853 to 1860, has now been renamed in honour of a local deity.
Seven new lines, covering 3,123 kilometres and several other projects, have been sanctioned by the government for Maharashtra, in the Union Budget 2017-18 presented by finance minister Arun Jaitley. This year, the Railway Budget R
In an effort to promote digital payment, the Central Railway (CR) and Western Railway (WR) have so far installed 122 point of sale (PoS) machines at Passenger Reservation System (PRS) under the Mumbai division, officials said.
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.
The Goods and Services Tax (GST), is a comprehensive indirect tax on the sale, manufacture and consumption of different kinds of goods and services throughout India, with all other central and state taxes intended R
The SPV - Maharashtra Railway Infrastructure Development Corporation (MRIDC) - will implement railways projects across the state, besides the Mumbai suburban section, Prabhu said at a joint media briefing along with Chief Minister Devendra Fadnavis.
Prabhu, speaking to reporters at the secretariat along with Chief Minister Devendra Fadnavis, said Maharashtra will become the first state to work jointly with the Railways in this way.
"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.
Harishankar Subramaniam, National Leader, Indirect Tax, EY says that retailers will benefit fundamentally from the GST as VAT, CST and excise duty on locally manufactured goods will be available as credits.
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.
The two percent CST will be an integrated GST (IGST) which will be fully creditable by the dealer when he sells the car in the other state, Harishanker Subramaniam, national leader - indirect tax, EY, says
Light to heavy rains after nearly a month-long dry spell brought relief from the sultry weather conditions even as suburban train services on western and central lines were hit today due to the water-logging in some parts following incessant showers.
Crisil believes an improvement in the distribution process of FMCG goods is a must to see the effectiveness of GST.
Once the CST (Central sales tax) is phased out, optimisation of warehouses and inventories will accrue in savings on logistics. The elimination of check posts will also help deliver savings as goods move faster, the agency said, pointing out that the consumer durables sector will benefit the most.
However, the net cash outgo will aggregate to only Rs 19,229.61 crore, while the rest of the amount would be matched by savings and enhanced recoveries. The second batch of Supplementary Demands for Grants 2014-15 was tabled in Parliament on Monday by Finance Minister Arun Jaitley.
With the government‘s â€˜Make in India‘ initiative and its thrust on expanding the share of manufacturing to India‘s goss domestic product (GDP), has allocated Rs 20,000 crore to boost SME sector through Mudra Bank in the Union Budget 2015.
Also, to speed-up GST implementation, the government may have to impose excise duty on such items, since state governments already levy value-added tax (VAT) on them.
Even though the industry expectation from Union Budget 2015 would be to resolve all the anomalies prevalent in indirect tax law, it is unlikely that it would be fulfilled entirely.
Finance Minister Arun Jaitely Friday met the states on pre-budget consultations with the purpose of considering the proposals given by them at the time of framing the Budget. As per the demands, majority of states want a quick implementation of the good and services tax (GST).
The CST issue may have been resolved but agreement is yet to be reached upon others such as inclusion of alcohol, tobacco and petroleum. Further, the legislative calendar is too packed to allow for tabling of GST bill in this session.
CST compensation is one sticky issue that has been holding up agreement on introduction of the Goods and Services Tax (GST) regime to replace all indirect taxes.
Rashmi Verma, additional secretary, revenue, says certain decisions have been taken on the mechanics of GST - including rates and structure of GST, place of supply rules. She adds that the basic issue worrying the states is fiscal autonomy.
The oil and power ministry are seeking financial aid for stranded gas-based power plants.
After opposing the a central goods and sales tax (GST) for years as Gujarat chief minister, and later becoming its chief patron, prime minister Narendra Modi may face opposition for the ambitious tax reform from the same state he ruled for 12 years.