Knitwear manufacturers here are not ‘much’ concerned about the ‘mere rate structures’ of Goods and Services Tax (GST) but eagerly been looking at the macro approach that would be adopted for fixing various raw materials in the production chain into different slab categories. According to the cons…
Tag: Goods and Services Tax (GST)
16 states score over 80% in WB-DIPP ease-of-doing-business ranking
New Delhi: Ramesh Abhishek, Secretary, Department of Industrial Policy and Promotion (DIPP), has said that as many as 16 states of India had scored over 80 per cent in the World Bank- DIPP ranking of States based on 340 parameters on ‘Ease of Doing Business’. Abhishek, while addressing the 41st J…
Govt in dilemma over curbs on cheaper imports: Nirmala Sitharaman
Union Minister of State (Independent Charge) for Commerce and Industry, Nirmala Sitharaman, has said that the government is in a dilemma over the issue of imposing restrictions on cheaper imports, since a section of the Small and Medium Enterprises (SMEs) are achieving global competency by using …
Tradeshift tapping Indian small businesses for its invoicing platform
Tradeshift, the “social network for invoicing,” sees serious potential in India’s small business sector, CEO Christian Lanng told. The start-up, which connects businesses to simplify their expense systems, told that India was Tradeshift’s fastest growing market, with 15,000 smal…
Growing demand for electronics products make a strong case for Make in India
Robust growth in demand for electronics products in India and growing labour cost in established manufacturing hubs of the world make for a compelling case for global electronics maker to move production to India, especially for products consumed in the country. However, lack of manufacturing eco…
Govt expects improvement in India’s ease of doing biz ranking
Enthused by improvement in India’s rank in WEF’s Competitiveness Index, the government exuded confidence that the country will witness a similar gain in the World Bank’s ease of doing business ranking and it may also prompt a sovereign ratings upgrade. Although global credit rat…
Will meet April 1 target for GST rollout: Meghwal
Stressing that the new indirect tax regime is a major tool for improving ease of doing business, Minister of State for Finance Arjun Ram Meghwal said the government will be able to implement Goods and Services Tax (GST) from April 1, next year. “April 1, 2017, is the target date for implementati…
Cleartax lines up $5 million for GST tech platform
Fintech startup Cleartax has lined up a USD 5-million investment to develop and roll out systems for Goods and Services Tax (GST) by April 1, 2017. According to a report the Gurugram-based platform has been brought on to the government’s not-for profit entity GST Network as a GST Suvidha Pr…
Many reforms coming, GST will get SMEs into value chain: Economic Affairs Secretary
Committing to “many more reforms”, a top Finance Ministry official said implementation of the Goods and Services Tax (GST) will bring Small and Medium Enterprises (SMEs) into the national value chain. “The government is aware that many more reforms need to be taken. After implem…
GST to cut red tape, help SME sector, says West Bengal Finance Minister
The uniform Goods and Services Tax (GST) is going to benefit Small and Medium Enterprises (SME) the most by way of cutting down bureaucracy and the existing layered tax structure, West Bengal Finance Minister Amit Mitra said. Mitra said SMEs feed large industries and that this is the most labour-…