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According to a report from the Finance Ministry, the Goods and Services Tax (GST) has maintained parity with personal income tax as a percentage of GDP. This is attributed by economists to consumer demand, compliance, and maybe some effects of inflation. Another opinion holds that this tendency is not ultimately resulting in a system of […]
Sessions are to be held by the Economic Advisory Council of the Fifteenth Finance Commission on April 23-24 2020 regarding the current position and the revival of the Gross Domestic Product (GDP) growth The biggest tax reform i.e. Goods and Services Tax is now a part of Indian Economy. A new and unified tax structure […]
The recent outbreak of Coronavirus Covid-19 is expected to affect the Gross Domestic Product (GDP) of all the countries in the world. India is also not left out of this. The government is coming up with exceptions and is extending the due-dates of the returns for the convenience of the taxpayers because of the outbreak. […]
From 7.1% in 2016 to 6.6% in 2017, the fall in GDP rate had raised a lot of eyebrows and serious questions were asked about the effectiveness of implementing GST post Demonetization.
According to a survey conducted by the Confederation Indian Industry (CII) reveals several facts regarding the country – Business Confidence Index (BCI) enhanced, growth in the economic conditions of the country in the third quarter of FY 2018.
The GDP growth data for September quarter will be announced on 30th November (Thursday) FY of 2017. It is anticipated that GDP figures of September quarter will increase as compared to June quarter
The newly released economic survey mentioned clearly that the achievement of expected GDP is somehow very difficult to retain at around 6.75 to 7.5 percent. It also suggested that the there should be more reduction in the interest rates which will increase the flow of the economy.
The government has this time to have an increased Tax to GDP ratio by 12 percent in coming two years by FY20. For this, the authorities will be having benefits of newly implemented GST and the thorough cross checking of accounts with their taxpayers.
The latest research by a US Federal Reserve paper says that the goods and services tax (GST) can lift India’s GDP development by up to 4.2 percent, two-fold the past gauge – as lower taxes on manufactured goods will knock up output and make items less expensive.
