The synthetic sector is struggling due to factors such as high price, higher cost of manufacturing on account of high input prices and competition from China, South Korea, Indonesia and Thailand.
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Tag: Arun Jaitley
‘Govt won’t pull down prices, companies to pass on GST gains to consumers’
The government does not intend to use the “hammer” immediately to pull down prices, leaving it to market forces to guide companies to pass on the benefits of goods and services tax (GST) to consumers. “Competition will force them to fall in line. You don’t have to use the …
MSME Minister bullish on success of GST; Assures govt consideration on genuine issues
Union MSME Minister Kalraj Mishra has congratulated Prime Minister Narendra Modi and Finance Minister Arun Jaitley on the successful roll-out of GST and hailed it as India’s biggest tax reform. Bullish over the success of this new tax reform, Mishra assured that government will be considerate on …
History made, India awakens: Nation’s biggest tax reform ‘GST’ is on the roll now
At the stroke of the midnight hour, India has awakened as a common market for the first time. The 17 year-journey of historic Goods and Services Tax (GST) has finally come to an end, as President Pranab Mukherjee and Prime Minister Narendra Modi rung the bell of new India and rolled-out ‘One Nati…
GST Timeline: A look at the 17-year journey of historic Goods and Service Tax
GST rollout: India is all set to rollout the historic Goods and Services Tax (GST) during a special joint midnight session of Parliament today. For 17 years, the idea of ‘One Nation, One Tax’ witnessed several delays, heated politics and more. But the time of GST has now arrived. Prime Minister N…
GST Rollout: People have nothing to fear; everyone will be benefited, says Hasmukh Adhiya
With the government all set to roll out Goods and Services Tax (GST) today midnight, Revenue Secretary Hasmukh Adhiya has said that people should not believe in any false information and that everyone will benefit from it. “People should not believe in any misinformation as it is a tr…
PM to inaugurate 3-day textile exhibition in Gujarat; J’khand to pavilion exclusive session
Textiles India 2017, claimed to be the largest textiles show ever held in India, is all set to be inaugurated by Prime Minister Narendra Modi in Gandhinagar on June 30. The mega 3-day global exhibition will bring about an opportunity to interact with over 1500 exhibitors spread over 78,000 square…
National Flag, temple offerings and Gandhi caps will need e-waybills under GST
The National Flag, temple prasadam, khadi fabric, and Gandhi caps may be exempt from Goods and Services Tax, but for their transportation, the Centre is considering mandating the generation of e-waybills once that system is operationalised. Transporting currency, LPG, and kerosene oil, however, w…
Govt to make companies pay if they fail to pass on GST benefits to consumers
The central government on June 20 notified anti-profiteering rules to ensure that businesses pass on the benefit of reduced indirect tax to customers once the proposed goods and services tax (GST) comes into force on 1 July. Failing to pass on the GST benefits could cost businesses their registra…
No excuse for firms not to be ready for GST: Arun Jaitley
Finance Minister said enough time has been given for GST preparation He claimed 6.5 million firms have registered for GST He also said he expected there to be “some challenges” in the short term after the launch Companies have been allowed to file simplified, aggregate tax returns in …