The clause would give enormous powers to the official machinery for harassment
The Union Budget 2017 opted for the path of least resistance
According to Jaitley, the whole process of preparing the draft laws and deciding the rate slabs will need time until March, which makes 1 July rollout a more realistic deadline than earlier 1 April.
Apple Inc. appealed on Monday against a $14-billion tax demand as the European Union issued details of its ruling that the iPhone maker won sweetheart tax deals from the Irish government which amounted to illegal subsidies.
The hard-won political consensus on GST by finance minister, Arun Jaitley, is now on shaky grounds due to the ongoing tussle between the Narendra Modi-government and key opposition parties on the demonetisation issue
If as on 16 September 2017, there is no GST, then there is no taxation in the country, Arun Jaitley has warned
GST regime makes excise creditable but whether the benefits are to be transferred to the consumers is the manufacturer's call
India may have got more of what the country was trying to avoid - a complex tax system
Instead of treating the tax rates as being sacrosanct forever, the same should be rolled out over a three year time frame
The proposed additional cess is likely to add to the tax burden of certain goods; it will prove to be the political hot potato today at the meeting
Arriving at a tax rate that is agreeable to all, politically and economically, is the crucial challenge for the GST Council and it is likely to be a long-drawn process
'Reasonably possible' to meet 1 April GST deadline as no political bickering among states now: Arun Jaitley
The GST Council has the mandate to look into issues of dual control and threshold rates with the states demanding that they be given the legal and administrative powers for imposing tax on entities with turnover of up to Rs 1.5 crore.
April rollout of GST is possible only if the standard rate is decided and broader contours of the central GST law agreed up on before the Winter Session
The GST Council will decide on the tax rate, will recommend the taxes to be subsumed and exempted from GST, the rates of taxation and the model Central, State and Integrated GST laws
It is interesting to see how the Congress party will position itself on the issue of GST rate in the winter session of the House.
Traders agree with the PM but feel they are not the only one responsible for the system. High tax rate, complex system, multiple administration having no accountability, unfettered discretionary powers, consumer avoids taking permanent bill, etc also contribute to generation of kacha bills.
Corporates should now consider April 2017 as the go-live date as the government's determined efforts would ensure that they adhere to the stated timelines, say experts
The government had moved six official amendments, including scrapping of 1 per cent additional tax.
Congress leader Jyotiraditya Scindia has said his party will support GST Constitutional Amendment Bill and has issued whip to all its MPs