Goods and Services Tax (GST)

Sandeep Wagle of Powermywealth.com says the market sentiment is certainly bearish and Nifty could even test 8,000 over next few days.

The winter session of parliament will be mainly focussed on the GST. The revised draft GST model laws were sent to states for comments on Tuesday. The draft GST compensation bill will be sent soon.

Speaking to CNBC-TV18 Manish Gunwani of ICICI Prudential Mutual Fund said that there is an upward movement seen in bond yields globally. Ultimately, it is about eanrings growth, he said. He doesn‘t think there is a case yet for a P/E (price to earnings) re-rating.

The top brass of the auto industry on Tuesday met the government on Goods and Services Tax (GST) and has accepted 28 percent as the rate for small cars, people privy to the development told CNBC-TV18.

The goods and services tax (GST) will not put Havells India's margins under pressure, says company CMD Anil Rai Gupta. But he says the benefits passed on to consumers will be limited once GST is implemented.

The goods and services tax (GST) council on Thursday decided on four tier structure at 5, 12, 18 and 28 percent. While the division of items into slabs is yet to be done, it will remove the practice of one single tax rate for all goods and services.

Speaking to CNBC-TV18 Harsh Mariwala, Chairman, Marico said that edible oil will be in the 5 percent tax slab, while hair oil will be under 18 percent. He also added that it will be guesswork. “We will have to wait and watch,” he said.

In a panel discussion on CNBC-TV18, representatives from India Inc listed their views and concerns on the likely impact the new tax regime brings on their business and industry.

The Centre's has recommended tax rates of 6, 12, 18 and 26 percent in the four-tier structure. But pressure from the industry to keep a higher upper limit at 28 percent and removing the cess over 26 percent has led to the change.

The GST Council will have to avoid the temptation of adding more goods into the 26 percent slab, says Harishanker Subramaniam, Partner & National Leader - Indirect Tax, EY. He says keeping rates low could become a challenge if the Council does not fix the standard Goods and Services Tax (GST) rate at 18 percent.

There is a recession globally, but India is doing well, he says. India will continue to develop thanks to the Goods and Services Tax.

A day ahead of the crucial GST Council meeting, Centre has estimated a revenue gap of Rs 43,000 crore in the first year of the roll-out of Goods and Services tax, despite the proposed cess, people privy to the developments told CNBC-TV18‘s Sapna Das.

The Indian economy may have improved considerably owing to a good monsoon, but Karwa says the earnings may only improve in the second half of current fiscal and will hold strong till the end of FY18.

The Union government is liable to compensate for any loss that the states incur for the first five years after GST's implementation.

The goods and services tax (GST) bill is an extremely positive step for both the Indian industry and consumer as it will facilitate the long term economic growth in the country, says Dilip Sanghvi, CMD of Sun Pharma.

Abneesh Roy of Edelweiss Securities expects the rate for home, personal care and paints to be around 18 percent. More clarity is needed on GST rates before any clarity is needed.

The government may levy a proposed Goods and Services Tax (GST) compensation cess commodity-wise in a rate slab, according to an official privy to the GST Council meeting which is underway, reports CNBC-TV18‘s Sapna Das.

The long-delayed tax, which would transform Asia's third-largest economy into a single market for the first time, should boost revenues through better compliance while making life simpler for businesses that now pay a host of federal and state levies.

As the three-day discussion on the implementation of Goods and Services Tax regime kicks off today, Kerala's Finance Minister Thomas Isaac said that there is need for more deliberations because of difference between states and the Centre over the proposals made by the government.

Speaking to CNBC-TV18 veteran banking expert KV Kamath said that he is watchful than worried about recent market developments. The market is skittish and liquidity is at an unprecedented level, he maintained. "There will be a flight for quality, he said, adding that the interest rates couldn‘t be lower.