Tag: tax

GST council sets exemption threshold for tax at Rs. 20 lakh

Giving relief to small businesses, the Goods & Services Tax (GST) Council has decided that threshold for exemption for businesses would be an annual turnover of Rs. 20 lakh, while the businesses in the Northeastern and hill states with annual turnover below Rs. 10 lakh would be out of the GST…

Interest of small businesses protected: GST Panel Chief Amit Mitra

With the Centre and states agreeing to keep traders with turnover of up to Rs 20 lakh out of the GST ambit, interest of small traders has been protected, West Bengal Finance Minister Amit Mitra said on September 23. Hailing the decisions reached at the first meeting of GST Council, he said more t…

GST Bill likely to pass in Monsoon session; SMEs bullish on the turn around

With the Monsoon Session kicking off, small and medium business players seem enthused by the likeness of Goods and Services Tax (GST) Bill being passed by the Parliament. The NDA government has sought an all-party support in the passage of this long-pending bill, which seeks to create a uniform i…

Cutting influence of big businesses is good, but strengthen SME policies

Narendra Modi’s government is completing its two years and while several things have changed people’s expectations is that more could be done. But what is it that can be done if real change has to happen. What is needed is not always what business particularly big business wants. One thing that h…

Agarwal Packers demands tax sops for logistics in budget

Logistics major Agarwal Packers & Movers has sought a set of tax sops to take India’s logistics to $300 billion business by 2020, a critical industry to push Prime Minister Narendra Modi’s ambitious Make in India plan and job creating MSME sector. Giving a long wish list to Finance Ministry, …