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The Confusing Biggest Tax Reform - GST

Mar 31, 2017

GST July 1 rollout in sight; 5 stocks which are likely to benefit the most

From Godrej Industries to VRL Logistics, a look at stocks that are set to reap in benefits from the unified tax regime.

The Lok Sabha on Wednesday passed four crucial legislations to introduce a countrywide Goods and Services Tax (GST) bringing India closer to a unified tax regime and while putting an ending uncertainty which is positive for markets. Click to read more

GST: Making the most of India’s big new tax reform

The Modi govt should keep working toward its original goal of having only one or two rates for GST, with as few exemptions and as little paperwork as possible

Given the usual speed of economic reform in India, it’s remarkable that the biggest change in years might actually start on schedule. “Start,” though, is the operative word.

If the country’s new national goods-and-services tax does go into effect in July, which looks more likely now that Parliament has passed the requisite legislation, that will be worth celebrating. Click to read more

GST may add 1-1.5% to GDP; NPA resolution plus pvt capex to add extra 1%: KV Kamath

GST would add 1-1.5% to GDP. NPA resolution and come back of private capex would add another 1%, said KV Kamath, President, New Development Bank.

Architectural changes like monetary policy being set by MPC and not just the RBI governor, the setting up of GST Council, as well as the move towards digitization – all combined would definitely be a big reset of Indian economic space, which would lead to an optimistic year for the country, is the word coming in from KV Kamath, President, New Development Bank. Click to read more

PM Modi to BJP MPs: Opposition misleading people, expose their lies on OBC panel, GST

Prime Minister Narendra Modi on Thursday slammed the Opposition parties for misleading people on BJP government’s stand on other backward castes (OBC) and GST legislation. PM Modi also asked BJP MPS to expose the lies that are being propagated by the Opposition. Click to read more

There are no dumb questions when it comes to India’s confusing, massive tax reform

The Narendra Modi government has embarked on the final lap of ushering in the ambitious goods and services tax (GST) regime in India. This would be the biggest tax reform in the country’s history and is expected to be a game-changer for businesses as well as the economy. The primary aim of introducing the GST is to have a uniform indirect tax structure—India currently has multiple layers of state and central taxes—and to increase compliance rates. Click to read more

GST: anti-profiteering clause may weigh on business, market sentiment

After months of discussions and several meetings, four goods and services tax (GST) supplementary bills finally got the Lok Sabha’s green signal on Wednesday. While the seven-hour-long debate was on, concerns were raised on many aspects of these bills—a significant one being the anti-profiteering clause. This clause requires businesses to pass on the benefit of input credit or tax reduction to the end consumer by way of a commensurate reduction in prices. Click to read more

Anti-profiteering clause in GST is transitory, will act as deterrent: Revenue secretary Hasmukh Adhia

After passage of the Goods and Services Tax bills in the Lok Sabha, industry has expressed apprehension over the clause on anti-profiteering. Revenue Secretary Hasmukh Adhia allayed these fears in an interview to ET’s Deepshikha Sikarwar, saying the government may not need to apply the clause at all. He said it is only an enabling provision that will likely be enforced only in the initial period of implementation. Edited excerpts: Click to read more

The need really is to broaden the base to lower GST rates

The Lok Sabha has done well to clear four laws required to roll out the goods and services tax (GST). The Bills cap the Central GST rate at 20 per cent and the Integrated GST rate at 40 per cent. It is hoped that states would cap the State GST rate at 20 per cent, so that the combined peak GST rate would be 40 per cent. The peak rate is steep. Even so, the constitutional remit of the states allows them, in theory, to ratchet up their GST rates beyond any cap. Click to read more

Market Live: Sensex, Nifty continue to trade in the red; HDFC Bank top loser

Investors remained cautious ahead of the new GST draft rules which will be finalised by the GST Council later today.

The goods and services tax will be rolled out on July 1, 2017 after the Lok Sabha on Wednesday cleared four supplementary GST legislations – Central GST (CGST), Integrated GST (IGST), Union Territory GST (UTGST) and the Compensation law. Click to read more

Final GST Rules To Be Released On April 1, Says Revenue Secretary Adhia

The government will release the final rules for Goods and Services Tax (GST) on Saturday, moving a step closer to meeting its July 1 rollout target for the new indirect tax regime.

The rules will come out a day after the next meeting of the GST Council on Friday, Revenue Secretary Hasmukh Adhia told BloombergQuint in an interview, adding that these rules will cover areas like refund, registration, return procedures, valuations, invoicing and other such things. Click to read more

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