The sanitaryware industry has urged the Centre to rationalize Goods and Services Tax (GST) to 5 percent from the existing 18 percent to pare down the cost and encourage personal hygiene
Union Budget 2019: ACMA pitches for uniform GST rate of 18% on all auto components as part of measures to support sector
Automotive component industry body ACMA on Thursday asked the government to ensure a uniform GST rate of 18 percent on all auto components as part of measures to support the sector that is going through a downturn
Automobile dealers body FADA on Thursday urged the government to consider industry status for the auto retail sector, a move which will help it avail easy finances and sustain business in the long term
Union Budget 2019: All India Farmer Associations urges govt to correct cigarette taxation error to lessen burden
Ahead of the Budget, farmers body FAIFA on Thursday urged the government to correct "an error" in cigarette taxation under the new tax regime that did not account for cascading effect on excise duty, which existed in the pre-GST system
Union Budget 2019: Travel and tourism industry eyes easing of tax burden, improvement of infrastructure and better connectivity
The travel and tourism industry expects a reduction of the tax burden, improvement of infrastructure and better connectivity from the upcoming Budget 2019, that will help double both the international as well as domestic tourist traffic
Passing through one of the longest sales slowdowns, the auto industry has sought a reduction of GST on all vehicles to 18 percent from the current rate of 28 percent
Budget 2019: PHD Chamber seeks cut in corporate tax, higher income tax exemption limit for individuals
PHD Chamber on Wednesday pitched for cutting corporate tax to 25 percent, and raising income tax exemption limit for individuals to Rs 3.5 lakh per annum in the forthcoming Budget
Budget 2019: Will govt take populist route and make announcements to include petroleum products under GST ambit?
While petroleum products are constitutionally included under the GST, the date on which the GST shall be levied on such goods shall be decided by the GST Council.
Budget 2019: Maruti Suzuki calls for reduction in taxes on automobiles in order to create demand, develop industry
Tax on automobiles in India is higher compared to many other countries and there is a need to reduce it in order to create demand and develop the industry, Maruti Suzuki India Managing Director and Chief Executive Officer Kenichi Ayukawa said Wednesday
Budget 2019: Announce accidental insurance, concessional credit for traders, CAIT asks Narendra Modi
Traders' body CAIT on Wednesday demanded an incentive package from Prime Minister Narendra Modi for traders such as accidental insurance coverage, credit at concessional rates and rationalisation of GST slabs
Budget 2019: Govt must boost liquidity in realty sector, create Rs 2,000 cr fund for stalled projects, says NAREDCO
Realtors' body NAREDCO on Tuesday demanded that the Centre should take some steps in the coming Budget to boost liquidity in the sector post-NBFC crisis and create a Rs 2,000 crore dedicated fund to complete stalled projects
Budget 2019: Industry wants clarity in e-KYC norms, rationalisation in GST and increase in tax deduction limits
The government may come out with new policies or benefits even though this is only an interim budget, says India Inc
Budget 2019: Arun Jaitley’s calculations have gone awry because of a huge shortfall in GST collections
At the current rate, the gap in the actual central GST earned and the central GST that the government hoped that it would earn, will be close to Rs 1,50,000 crore.
Group of Ministers to look into feasibility of GST rationalisation, composition scheme for real estate
A ministerial panel headed by Gujarat Deputy Chief Minister Nitin Patel would look into the possibility of rationalisation of GST rate in real state sector besides formulating a composition scheme
Budget 2019: IT industry seeks clarity on tax provisions for BPO and KPO services, quashing of angel tax
IT industry body Nasscom has urged the government to clarify tax provisions that treat BPO-KPO services as intermediaries under GST rules, and scrap angel tax levied on investments in startups
Budget 2019: Govt likely to overshoot fertiliser subsidy bill by Rs 30,000 cr, banks may chip in, says report
A rise in fertiliser prices overseas and a fall in the rupee currency also made imported fertilisers more expensive
GST, central excise and service tax evasion detected during the April-December period of the current financial year stood at Rs 48,555 crore, the highest in two years.
During April-November of the ongoing fiscal, the total net indirect tax collection (inclusive of CGST, IGST and GST-Compensation Cess) is Rs 6,12,653.47 crore, Minister of State for Finance Shiv Pratap Shukla said in a written reply in the Lok Sabha.