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GST finally saw its day of light after Lok Sabha also agreed upon the tax scheme to be implemented in the nation. Most of the prominent parties, leaders and general public were seen satisfied with the tax regime as everyone hopes that the Goods and Service Tax will surely bring some prosperity to the economy and citizens.
Since the independence, there was indeed a very deep requirement of a clear and smooth taxation scheme which would make India – a better nation and economy with its all round prosperity and everyone contributing for the same cause.
The Monsoon session of the Parliament, beginning from the July 3rd week will witness some major proceedings. The cabinet committee will be deciding the actual schedule of the session.
The first month of the fiscal year 2016-17, April has shown an increase of indirect tax collections by 41% to Rs. 64,394 crore. The major reason behind this hike is due to a sharp central excise gush. Last months’ records shot up the central excise collections by 70% to Rs. 28,252 as compared to Rs. […]
BEIJING: IMF yesterday, said structural betterments that include GST and the other land reform zones will be the prominent factors to amplify the economic potentials of India.
MUMBAI: According to one of the largest foreign institutional investors Morgan Stanley, there is a belief that BJP can pass the GST Bill by this July as it has got an ample number of Member of Parliament (MP) to pass the bill.
The GST empowered committee of state finance ministers has selected a name, Dr. Amit Mitra as a new chairman of the committee. He is a West Bengal Finance Minister also. Moreover, the post of chairman was empty since November, 2015 as the Kerala Finance Minister KM Mani had left the post in November due to corruption charges.
What is Direct Tax? These types of taxes are directly paid to the government of India. Government levies a direct charge on the entity or an individual which has to be borne directly by the individual/entity. Direct taxes include several taxes such as income tax, TDS etc. Types of Direct Taxes in India There are […]
The Indian Finance Minister Mr. Arun Jaitley said, the government will roll-out new taxation regime, GST by just making “certainly” double efforts in 2016 and he is in “continuous touch” with opposition party to coax them to cooperate.
