As the Budget session of Parliament resumed on Thursday, Prime Minister Narendra Modi hoped there will be a breakthrough on the Goods and Services Tax (GST) Bill and that issues will be discussed in a democratic manner.
“We hope that there will be a breakthrough on the GST because all states have positively cooperated. All political parties have also extended cooperation in a positive way,” he told reporters outside Parliament. Click to read more
The biggest indirect tax transformation ‘GST’ will be upon us in a few weeks from now. The law makers are deliberating on the specific clauses and contours of it – so that the appropriate legislations can be passed. The Confederation of All India Traders (CAIT), the umbrella association for traders in the country and Tally Solutions Private Limited, a premier Indian software product company though extending their full support to GST, raise their concern of the impact on certain clauses of the GST Law on the small businessman. Click to read more
In a recent development regarding Goods and Services Tax (GST), government has decided to bring select farm items under the purview of GST.
The draft CGST and IGST has brought in a new definition of ‘agriculturalist’ in the GST law which is different from the earlier generic definition. It says, an agriculturalist is a person or a Hindu Undivided Family undertaking cultivation of land by own labour or labour of the family or by servants paid wages in cash or kind or by hired labour under personal supervision or supervision by any family member. Click to read more
Credit Rating agency Crisil, in a latest report, has presented a cautious growth forecast for the Indian economy in the coming fiscal, where there could only be a mild recovery in the economy, private capex is likely to remain subdued and investments to the private sector will only pick up in fiscal 2019. Banking sector credit growth will also remain muted, the report for India’s economic outlook for fiscal 2018 said. Click to read more
MIDC Industries Association (MIA) and Department of Customs, Central Excise and Service Tax jointly organised a full-day workshop on GST at MIA House, MIDC, Hingna. Expert faculty for the workshop was the Surendrakumar Mankoskar, Additional Commissioner of Central Excise, Pune, Kiran Deshpande, Superintendent of Central Excise, Pune, Anil Sasidharan, Ganesh Pote, Kamal Puggal and A Y Kanojia, all Assistant Commissioners were present. Click to read more
The budget session of Parliament resumed on Thursday ahead of the declaration of results for the assembly elections in five states on Saturday. The session, starting on Thursday, will continue till 12 April.
The first part of the session, which started on 31 January, closed on 9 February, following the presentation of the Union Budget. A passage of motion of thanks to President’s address to the joint sitting of both the Houses was also presented on conclusion of the first part of the Budget Session. Click to read more
Governing a sector as massive as real estate is not an easy task. The interests of several stake holders are involved here. All their concerns have to be addressed when policies are formulated. A policy decision made at the right time taking into account all the problems of a particular sector can change the way that sector functions for the better. Click to read more