Under GST rules, ferrying goods worth more than Rs 50,000 within or outside a state will require securing an electronic-way bill by prior online registration of the consignment
Ensuring price stability through monetary policy and current account deficit at sustainable levels have enabled us the build-up of “buffers” against unforeseen shocks, according to Reserve Bank of India Governor Urjit Patel.
In a research report on Economic Outlook in 2018, it said the worst is over for India's GDP growth, while forecasting a growth rate of 6.5 per cent for the current fiscal and 7.2 per cent in the year thereafter.
Wholesale inflation rate, measured by WPI, is a marker for price movements in bulk buys for traders and broadly mirrors trends in shop-end prices.
"A new functionality has been introduced on the GST portal for ease of the taxpayers under which questions will be posed as soon as the taxpayer enters the Returns dashboard and only relevant tiles will be displayed to the taxpayers based on the answers to the questions posed," the GST Network said in a statement.
This will, in turn, result in increase in the cost of power, AISIA general secretary Gyanesh Chaudhary said in letters to Revenue Secretary and other senior government officials.
The elections for the 182-seat Gujarat assembly are being closely watched because it is PM Narendra Modi’s home state.
The application form requires pre and post-GST details on sale prices and taxes as well as benefits of input credits.
"Let revenue stabilise and tax buoyancy come, then the Council will look into rationalising or merging tax slabs of 12 and 18 per cent," Modi, who is also the Deputy Chief Minister of Bihar, said in his address to Bharat Chamber of Commerce members here.
The shipping ministry, which was previously asking for an exemption from GST, was now looking at a “standard GST rate of 12 percent” across the entire cruise industry to maintain revenue inflow
Amid issues like implementation of the Goods and Services Tax (GST) and demonetisation, apart from the 'Patidar' factor, it is to be seen for whom the large trading community of this diamond and textile hub will vote, when the city goes to polls in the first phase on Saturday.
The six-member panel set up by the government last month, he said, has made over 100 recommendations regarding GST.
“In terms of the taxation requirement, if we see corporate taxes across the world, the trend is that people are reducing corporate taxes. India is among the highest.,” Confederation of Indian Industries (CII) President Shobhna Kamineni said after the pre-budget meeting with the Finance Minister and top ministry officials.
"EEPC compliments the commerce ministry for a pragmatic mid-term review of the Foreign Trade Policy with the objective of improving ease of doing business for the exporters," EEPC chairman T S Bhasin said in a statement.
Around 39 percent of startups said that they received one or more income tax notices this year
In the first four months of the Goods and Services Tax (GST), over 3 crore returns have been filed on the GST Network (GSTN) portal, with 80 lakh alone being filed in November. Speaking to PTI, Pandey said the return filing on the portal has been increasing by 5 lakh every month on an incremental basis and expressed hope that the new leadership at Infosys would carry the momentum forward.
The FTP review, to be unveiled later today, may accord special priority to improving logistics for trade to help bring down the costs, sources told PTI.
According to data shared by CITI, the import rose during July, August and October, but September figures were not available.
Behera said the state has collected Rs 3735.14 crore as GST from July to October 2017 which is about 2.3 percent more than the corresponding period of the last fiscal.
The GST slab for fans was reduced from 28 per cent to 18 per cent, thus 50 Watt fans will now be available at Rs 1,110 only, it said in a statement.
"The Union Government is not releasing Rs 3500 crore share of Punjab from GST, which has been adversely impacting the social welfare schemes of the state government," Jakhar said in a statement.
The Central Board of Excise and Customs (CBEC) had last month started refunds for exporters of goods who have paid IGST and have claimed refund based on shipping bill by filling up Table 6A.
Yesterday when the GDP numbers came out, the Chief Economic Statistician TCA Anant said that since GST is not stabilised there might be an upward revision in the numbers going ahead. To discuss that in detail, CNBC-TV18's Ronojoy Banerjee caught up with the man himself.
The filing of returns by exporters has increased to 3,000 a day from 900 about a week before.
"After demonetisation, there was small lull for a small period as nobody knew actually what was going to happen. Then GST was implemented. Agents should have knowledge of taxation and all. Lot of people did not book holidays. Now, it is stabilising. GST is working out better for us," IITM director Surinder Hakhu told PTI here.