The markets made a powerful comeback on Monday as the Sensex rallied almost 216 points and reclaimed the 29,000-mark to close at a 2-year high, cashing in on solid gains in index heavyweight RIL amid mixed global cues.
The all-powerful GST Council approved the final draft of central GST (C-GST) and integrated GST (I-GST) and will take up for approval the state-GST and Union Territory-GST (UT-GST) laws at its next meeting due March 16, which instilled a sense of confidence in investors. Click to read more
Reliance Industries was on the top of the heap, surging 3.69 per cent and settling at a fresh 9-year high, after the company announced that the promoters will be reshuffling their shareholding.
The markets made a powerful comeback today as the Sensex rallied almost 216 points and reclaimed the 29,000-mark to close at a 2-year high, taking comfort from progress in GST and cashing in on gains in heavyweight RIL. Click to read more
GST is not just a tax reform but it is a business reform. It shall change the way in which business processes are performed and the way in which the business transactions are undertaken. Although, GST will bring with it, both positive and negative aspects. However, the organizations that will plan its business processes better in a manner to best suit the needs of the GST regime, then such organization will have competitive edge over others. Therefore, it is of due importance that business house proactively re-structure its business processes and optimize its tax position to reduce the negative impact of the changing tax environment. Click to read more
As Centre cedes power to states in indirect tax, it wants to all ystaffers’ worry of little work.
Amid staff concerns over redundancy in the post-goods and services tax (GST) regime from the coming financial year, the Central Board of Excise and Customs (CBEC) is identifying new areas of work in international customs, risk assessment, post-clearance audits and taxpayer services, among others, to remain relevant. Click to read more
Compensation norms for revenue losses on account of transition to the goods and services tax (GST) may add some element of certainty for state governments while preparing their budget targets, according to a study by rating firm IcraBSE 1.40 %.
It says that the transition may turn out to be temporarily disruptive and that the pace of growth of transfers from central government to state governments is forecast to halve in the coming fiscal. Click to read more
Gold price is likely to remain fluid and the industry pins its hope on the goods and services tax (GST) for lower rates on the yellow metal.
The price dipped below the Rs 30,000-mark on Monday, plunging Rs 350 to Rs 29,750 per 10 grams. Traders said that apart from a weak trend overseas, the fall in demand from local jewellers and retailers following the end of the marriage season mainly pulled down gold prices. Click to read more
Urban Development Minister M Venkaiah Naidu today pitched for exempting affordable housing from service tax under the GST regime so that prices for low-cost homes do not rise.
Naidu, who is also the Minister of Housing and Urban Poverty Alleviation, also asked states to waive stamp duty for affordable housing projects and rationalise it for others.Addressing the realtors’ body CREDAI event, he assured that the GST (Goods and Service Tax) would not lead to rise in prices and certainly not for the affordable housing segment. Click to read more
“GST is likely to revolutionize the way India does business, setting it on a path to become one of world’s most evolved and business-friendly countries”
How businesses operate and grow in any given economyis an outcome of the tax regime followed there. The more complex the system is, the more it impacts the efficiency and operations of these businesses. India for ages, has had one of the most complex and elaborate tax structures globally. The indirect tax system in India, including customs and excise, has steered several businesses into remodelling their approach, owing to multiplicity of taxes collected at both state and central level. This in turn impacts the overall development of business enterprises of varied scales and stature. Click to read more