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    • Road to GST: Jaitley-headed council to approve four draft bills on Saturday

      The Council will also discuss raising the peak rate in the model GST Bill to 40 percent (20 percent central and 20 percent state). This would be only an enabling provision to ensure that Parliamentary ratification is not required if the highest rate need to be increased in the future. The effective peak rate will continue to remain at 28 percent

    • DTC Bill may slap 35% new tax on super rich: Sources

      The cabinet is all set to consider the revised direct tax code (DTC) Bill soon. No change is likely in the tax exemption limit, but the bill proposes a new 35 percent tax slab for people with income exceeding Rs 10 crore per annum.

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