The hospitality sector in India survived the disruption caused by the introduction of a new tax regime and the impact of demonetisation, as reflected in the better-than-expected number of hotel management, franchise and lease agreements signed in 2017, according to a new report by Jones Lang LaSalle shared exclusively with ET.
Coming on the back of demonetisation at the end of 2016 and GST (Goods and Services Tax) implementation in 2017, new hotel brand signings were expected to slow down, but the sector has weathered the storm well,” JLL Hotels and Hospitality Group said in the report. “With no significant policy changes expected to come in 2018, we except the pace of brand signings to increase from levels recorded in 2017. Click to read more
Consumers delaying home appliance purchases such as air conditioners, refrigerators, televisions and washing machines expecting a GST relief may be in for a shock. They may also have to prepare for another blow — a hike in consumer appliances prices. The GST Council, which meets early next month, is not in favour of reducing the existing 28 percent GST rate applicable on the segment, sources told Moneycontrol. Click to read more
The levy of Good and Services Tax on fertilisers and pesticides have increased the prices of these essential farm components by more than 15 percent according to the Kashmir Valley Fruit Growers cum Dealers Union (KVFGD).
According to a statement of KVFGD, the union has expressed its concern over the rising prices as it is having direct impact on the growers, as the rates of pesticides, fungicides, insecticides and tree spray oil have enhanced more than 15 percent. Click to read more
A section of the Muslim community in Uttar Pradesh has threatened to take to the streets over the increased expenses of the Haj pilgrimage.
And they are blaming the hike on the alleged imposition of 18 per cent Goods and Services Tax (GST) on Haj pilgrims by the central government.
However, the Bharatiya Janata Party (BJP) has denied these claims and said that the GST on Haj tickets had been fixed at 5 per cent since it became effective in July 2017 and has not been changed since then. Click to read more
Luxury carmaker Audi India, which had looked at a double-digit growth this year, is now expecting that sales will be flat in 2018, following an increase in cess and hike of customs duty on some imported auto components announced in the Union Budget, an official said on Friday.
Initially, we are planning for a double-digit growth in 2018 and now we are expecting a flat year for several reasons. Cess increase in September last year and customs duty hike as announced in the budget were not favourable steps for us though introduction of GST (Goods and Services Tax) was a great move,” said Rahil Ansari, head of Audi India. Click to read more
The Kerala High Court in the case of M/s. Teesta Distributors & Anr. vs. State of Kerala & Ors., on Friday invalidated Rule 56(20A) (iii)(d) of Kerala State GST Rules which allowed tax officers to decide whether the lottery was being conducted as per the Lotteries (Regulation) Act,1998 and the rules made thereunder. The other rules namely-Rules 56(19) and some sub-rules of Rule 56 (20A), demanded the agents and distributors of other State lotteries to furnish details of the lottery sold, including the identities of the winners. Click to read more
The Commissioner of State Tax, Maharashtra has issued a notification amending an earlier notification which stated that on or after the 1st April 2018, no e-way bill shall be required to be generated, for the intra-State movement that commences and terminates within the State of Maharashtra, in respect of any goods of any value. As per clause 2 of the earlier notification, the notification shall be in force until further orders are issued. The new notification has amended clause 2 and has fixed an expiry date for the Notification, i.e. 30th April 2018. Click to read more
Senior Congress leader P Chidambaram on Friday slammed the Modi government over the high petrol prices, saying it has become clueless and floundering and is living off an oil bonanza.
In a series of tweets, the former finance minister said the Bharatiya Janata Party (BJP) boasts that it is ruling 22 states but why does the National Democratic Alliance (NDA) government refuse to bring petroleum and petroleum products under Goods and Services Tax (GST). “For the last four years, the BJP government has lived off an oil bonanza. Click to read more
BJP President Amit Shah today challenged Congress chief Rahul Gandhi to make public if the BJP government has waived the loans of any one industrialist, instead of “misleading” the country.
“I was listening to the speeches of Rahul Gandhi here (during election campaigns). He keeps on saying, Modi government does not waive farmers’ loans, but waives that of industrialists,” Shah said in an interaction with trade and industry leaders here. Click to read more