The GST Act includes the provision of setting up an anti-profiteering authority to ensure that companies pass on the benefit of tax reduction to customers.
Jaitley said in Lok Sabha that the total revenue generated through cess and surcharge during 2014-15 was Rs 119,276.65 crore, which increased to Rs 2,65,661.61 crore in 2016-17
"The proposal makes a lot sense because 10 paisa cess per ticket will not burn of a hole into travellers' pockets. Besides it would help railways to mop up funds to provide social security to coolies," said the source.
Arun Jaitley is finding it difficult to defend the Union’s claims on a tax base that he earlier took for granted, given the allegedly misleading information that was fed by the Union government officials to the state finance ministers
Ahead of the meeting of all powerful GST Council next week to decide on GST rates, Jaitley said the 4-slab structure of 6, 12, 18 and 26 per cent was under consideration, with lower rates for essential commodities and higher bracket for luxury goods
Modi had branded himself as the champion of a neo-liberal middle class. The latest revisions prove that he has no dogmatic belief in any ideology. He is rather a pragmatist who is solely focused on getting re-elected in 2019.
The government has collected Rs 329.6 crore in a month's time from the 0.5 per cent Swachh Bharat cess which is imposed on all taxable services, the Parliament was informed today.
An organization called Clean India Authority could be formed to build toilets and ensure it must be continually flushed with water
The Budget 2015 is just a few days away and India Inc has a long wish-list . CNBC-TV18 in its special show Budget 2015: The Make In India Budget spells out the wishes and misses of India Inc.
Mumbai is considering some pretty extreme measures to reduce vehicular traffic in the metropolis.
The finance minister has said subsidy burden has to be brought down and a lower allocation for oil subsidy means part of the burden will now be passed on to consumer.
Canadian oil and gas producer Niko Resources Ltd expects lower natural gas reserves at the D6 block located off India's east coast.
Even though industry experts are skeptical about the FM's growth targets, which have been termed as unrealistic, the FM is confident his targets will be met.