GST

  • IMF welcomes passage of GST by Indian parliament 1 hour 3 minutes ago

    Singapore: International Monetary Fund (IMF) on Thursday welcomed passage of the long-pending Goods and Services Tax (GST) by the Indian parliament, saying it will lead to long-term sustainable growth in the country. "We welcome the introduction of GST and one of the fiscal reforms and it is one of the key...
  • India closer to biggest tax reform in decades as GST Bill crosses the first hurdle in Parliament 4 hours 55 minutes ago

    New Delhi: A major tax reform cleared a key hurdle in Parliament on Wednesday, when the Lok Sabha passed a Bill to replace a patchwork of levies by the central and state governments with a single nationwide sales tax. One of major reforms proposed by Prime Minister Narendra Modi, the Goods...
  • Embarrassing moments for BJP in Lok Sabha, 12 MPs vote against clause of GST Bill 18 hours 8 minutes ago

    New Delhi: The government on Wednesday faced some embarrassing moments in Lok Sabha as 12 Bharatiya Janata Party members voted against a clause of the Goods and Service Tax Bill, instead of voting in favour. The 12 ruling party members pressed red button instead of green when Speaker Sumitra Mahajan...
  • While Salman Khan was being sentenced to jail, here are other important events that took place 19 hours 10 minutes ago

    New Delhi: Even as the entire electronic media was engrossed with the 13-year-old hit-and-run case in which Bollywood superstar Salman Khan has been convicted and sentenced to jail for five years, there were important developments talking place in other parts of the country too which were completely ignored by the...
  • Lok Sabha approves GST bill, paves way for uniform tax regime 20 hours 50 minutes ago

    New Delhi: The long-pending GST bill was approved by Lok Sabha after a walkout by Congress even as government vowed to compensate states for any revenue loss and assured that the new uniform indirect tax rate will be much less than 27 per cent recommended by an expert panel. The Constitution Amendment...
  • Congress backs GST Bill but wants it to be sent to Standing Committee Yesterday

    New Delhi: Congress on Tuesday supported Goods and Services Tax (GST) in Lok Sabha but opposed some of the provisions of the bill on it introduced by the BJP government, demanding that it be sent to the Parliamentary Standing Committee, which was supported by parties like AIADMK and BJD. ...
  • Real Estate Bill to be taken up in Rajya Sabha today, showdown between Centre, Opposition likely 2 days ago

    New Delhi: The Rajya Sabha is likely to see a heated debate over the Real Estate Regulatory Authority Bill that is listed for consideration on Tuesday. The Congress has said it will oppose the bill strenuously as it is anti-home buyer and pro builder. However, on Monday, Congress Vice President...
  • Jaitley moves GST Bill for Lok Sabha debate, Opposition walks out April 24, 2015

    New Delhi: Amidst uproar from opposition parties, the government on Friday moved a constitutional amendment in the Lok Sabha to allow passage of the Goods and Services Tax Bill. The opposition Congress, the Samajwadi Party (SP), Left, Trinamool Congress (TMC) and Aam Aadmi Party (AAP) walked out in protest, claiming that...
  • Live: Congress walks out of Lok Sabha after government moves amendment to allow passage of GST Bill April 24, 2015

    The BJP issued a notice to it's members to be present to ensure the constitional amendment is passed with 2/3rd majority. ...
  • GST Bill in Parliament in couple of days, not all issues resolved: Finance Minister April 22, 2015

    New Delhi: Aiming for GST roll out by April 2016, the government will move the Constitution Amendment Bill in Parliament within a couple of days, even as compensation and revenue loss to manufacturing states lacked consensus at a meeting held on Wednesday. "In view of the...
  • GST will transform India's fiscal architecture: Jayant Sinha March 5, 2015

    New Delhi: The GST roll out will prove to be a revolutionary step and has potential to transform the "fiscal architecture" of the government, Minister of State for Finance Jayant Sinha said on Thursday. "In some ways it is as revolutionary and as profound as what happened in 1991 because it...
  • Arun Jaitley's Union Budget fails the test of tackling rising inequality, says P Chidambaram March 1, 2015

    New Delhi: Former finance minister P Chidambaram tore into the BJP-led NDA government's first full-year Union Budget presented on Saturday. Targeting Finance Minister Arun Jaitley, Chidambaram said the Budget failed the test of tackling rising inequality, cruelly neglected the already poor and gave too much to the rich. "This Budget...
  • A good Budget with 3-4 forceful directions February 28, 2015

    By Dr Shankar Acharya, Former Chief Economic Adviser to Government of India It is a good Budget. I rate Arun Jaitley's Budget as good. Lot of things he mentioned sounded good. He has also given a forceful direction to 3-4 things. Fiscal consolidation has also been taken into account. I like...
  • Union Budget 2015: What is cheaper and what is dearer February 28, 2015

    New Delhi: Finance Minister Arun Jaitley on Saturday presented the first full-fledged Budget of the Narendra Modi government aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. The government is planning to introduce...
  • More tax share for states reflects cooperative federalism, says Nirmala Sitharaman February 24, 2015

    Terming the decision of the central government to provide states a greater share in its tax revenues as being in the spirit of "cooperative federalism", commerce minister Nirmala Sitharaman said the move would allow states greater freedom to spend as per their needs. "Also the fact that we are putting...
  • Over 56 per cent polled expects a radical Budget, says Grant Thornton February 24, 2015

    It's less than six days to go for the Union Budget and expectations are running high. In an interview to CNBC-TV18, Pallavi Bakhru, director, Grant Thornton, said the euphoria quotient has never been higher. Discussing the firm's pre-Budget poll on India Inc's expectations from Finance Minister Arun Jaitley, Bakhru said...
  • Finance Commission for higher share to states in central taxes, Modi says will strengthen federalism February 24, 2015

    New Delhi: The Finance Commission has suggested raising share of states in central taxes to 42 per cent from current 32 per cent. As per the increased devolution suggested in the report of the 14th Finance Commission, the states will get Rs 3.48 lakh crore in 2014-15 and Rs 5.26...
  • The GST Classroom: What will GST mean for industry and consumers? February 23, 2015

    As the BJP-led ruling coalition at the Centre gets ready to present its first full-fledged Budget, CNBC-TV18's Shereen Bhan discusses the Goods and Service Tax's impact on the industry and consumers with panel of experts. ...
  • Union Budget 2015: Delink tax sleuths' performance from revenue targets, says FICCI February 23, 2015

    New Delhi: Expecting the Union Budget to herald a non-adversarial taxation regime, industry body FICCI on Monday said that the government should delink the tax officials' performance appraisal from the tax collection targets. FICCI also said that Finance Minister Arun Jaitley should rationalise subsidies and allocate more funds towards infrastructure...
  • Union Budget 2015: Auto makers wants excise duty reduction February 8, 2015

    New Delhi: Automobile industry body SIAM wants Finance Minister Arun Jaitley to reduce excise duty on automobiles in the upcoming Budget to help the sector combat demand slowdown. Besides, measures towards restarting stalled infra projects to help revive demand particularly of commercial vehicles should also be put high on the agenda,...
  • Watch: Centre must recall EGoM, amend GST Bill, says Amit Mitra January 3, 2015

    West Bengal Finance Minister Amit Mitra lashed out at the Centre over the goods and services tax bill. Speaking exclusively to Network 18, Mitra said that the Centre bypassed the empowered group of ministers and got the GST Bill approved hastily. ...
  • States want issues to be resolved before GST roll-out December 26, 2014

    New Delhi: Days after Centre bringing in the landmark single rate GST bill, the states on Friday demanded early redressal of their concerns on revenue loss while pressing for release of more funds and having a say in implementation of the central schemes. Besides seeking decentralisation of Centrally Sponsored Schemes (CSS),...
  • Common man to benefit from GST; states to gain from Day 1, says Arun Jaitley December 22, 2014

    New Delhi: The proposed Goods and Services Tax (GST) will benefit most of the states from Day 1 and industries and common man also stand to gain, Finance Minister Arun Jaitley said on Monday. Speaking at the meeting of the Parliamentary Consultative Committee attached to...
  • Government to compensate states for revenue losses from new GST December 20, 2014

    New Delhi: India will compensate its state governments for revenue losses due to the new nationwide Goods and Service Tax (GST), which is targeted to be implemented on April 1, 2016, the Finance Minister said on Friday. Arun Jaitley told reporters that petroleum products would be part of the new GST. Earlier,...
  • Will not allow political obstructionism to stop Insurance Bill: Arun Jaitley December 20, 2014

    New Delhi: A day after introducing the long-pending GST Bill in the Lok Sabha, Finance Minister Arun Jaitley on Saturday said the government is "extremely determined" to push insurance sector reforms and will not allow political obstructionism to stop it. "The government is extremely determined to go ahead with this (insurance...
  • India @ 9 with Palki S Upadhyay December 19, 2014

    Catch the day's top stories with Palki S Upadhyay on India @ 9. ...
  • News 360: Pakistan extends custody of 26/11 mastermind Lakhvi for three months December 19, 2014

    Zakiur Rehman Lakhvi, a key planner of the 2008 Mumbai attack, on Friday was detained by Pakistani authorities for three more months, a day after he was granted bail by a court that caused an outrage in India. Lakhvi, 54, was detained for three months under Maintenance of Public Order...
  • Goods and Services Tax Bill introduced in Lok Sabha after nod by states, TMC sounds caution December 19, 2014

    New Delhi: Aimed at creating a single tax for goods and services across the country, the Centre on Friday introduced the long-pending Constitution Amendment Goods and Services Tax (GST) Bill in the Lok Sabha for rollout of the new regime from April 2016 subsuming various levies like entry tax and...
  • Cleared by Cabinet, GST Bill to be taken up in Parliament during Winter Session December 18, 2014

    New Delhi: The Constitution Amendment Bill on Goods and Services Tax (GST) is likely to be taken up in the ongoing session of Parliament with the Union Cabinet giving its nod to bring about long-pending indirect tax reforms. The Bill was approved by the Cabinet late on Wednesday evening and it...
  • States oppose Centre's revised Goods and Service Tax draft December 11, 2014

    New Delhi: In a huge blow to Centre's plans to build a consensus on the Goods and Services Tax, states have opposed the Centre's revised GST draft. The government was hoping to get the legislation passed in the winter session of Parliament. The government was maintaining that broad agreement had...