Seen as one of the biggest tax reforms post independence in 1947, the Goods and Services Tax (GST) is set to bring forth unprecedented transformation of the Indian economy. There is a lot of conjecture around whether our markets are strong enough to sustain the impact of a radical change of this …
Tag: VAT
GST: A mix bag of opportunities & challenges for SMEs
The Goods and Service Tax (GST) is a destination-based tax applicable at multiple stages of production and rendering of goods & services and their distribution. Subsuming various indirect taxes such as entertainment tax, state and local tax, surcharge, excise duty, octroi, and others, the GST…
With India Inc unclear about certain key aspects of GST, postponing it makes more sense
The goods and services tax (GST) has received unprecedented support from all quarters. Government believes it will lead to revenue buoyancy, industry expects a simpler and more competitive tax regime, and the common man expects reduction in prices, once GST is implemented. The speed at which GoI …
MSMEs are the star of Gujarat Budget; Get Rs 1k cr spcl package
Ahmedabad: Making higher allocation towards sectors highly impacting common man such as education, youth, health, Micro, Small and Medium Enterprises (MSMEs) and infrastructure, Gujarat Budget offers a Rs 1000 crore special package for MSMEs in the state. The state would go for Assembly Elections…
बजट 2017: एसबीआई रिपोर्ट के अनुसार करों में छूट का तोहफा दे सकती है सरकार
सरकार नोटबंदी के बाद बने हालात को देखते हुये अर्थव्यवस्था को प्रोत्साहन देने के लिये आगामी बजट में प्रत्यक्ष करों में व्यापक फेरबदल कर सकती है। भारतीय स्टेट बैंक की एक शोध रिपोर्ट ‘इकोरैप’ के अनुसार आगामी बजट में व्यक्तिगत आयकर छूट सीमा बढ़ सकती है। आयकर की धारा 80सी के तहत विभिन्न नि…
Budget 2017: Govt may give incentives for food processing SMEs
New Delhi: Government is likely to announce incentives for small and medium food processing units in areas such as rice and tea in the Budget to promote the sector and boost manufacturing activities. The impetus may come through a scheme – Sampada — under which 35 per cent subsidy cou…
Budget 2017: लघु और मध्यम खाद्य प्रसंस्करण इकाइयों को प्रोत्साहित करने लिए हो सकता है ऐलान
सरकार चावल और चाय के क्षेत्र में कार्यरत लघु और मध्यम (एसएमई) खाद्य प्रसंस्करण इकाइयों को प्रोत्साहित करने के लिए और विनिर्माण गतिविधियों को बढ़ावा देने के लिए आगामी बजट में कुछ लाभकारी घोषणाओं का ऐलान कर सकती है। सूत्रों के अनुसार प्रोत्साहन ‘संपदा’ नाम की योजना के जरिए मिल सकता है। इस स्कीम के …
GST rate: In surprise move, polyester makers seek higher imposts
It’s not that a tax waiver or a low rate of tax is everyone’s choice. The input tax credit (ITC) facility, which will be the hallmark of the proposed goods and services tax (GST), has several industrial segments pitching against their potential exclusion from the tax regime while some other askin…
Post-GST tax benefits: Solution a must, otherwise Make in India will die a premature death
Though GST has been postponed for now, state governments would do well to sit down with firms they have promised tax sops to, in order to invest in their states, and figure out how to honour these promises—indeed, since tax sops are one way of attracting investors, a solution for existing investo…
States demand control of SME taxes under GST
Kerala, West Bengal, Delhi and Odisha are likely to play hard at the Goods and Service Tax (GST) Council meet scheduled next week, with their demand to have full control over business and institutions with turnover below `1.5 crore. “Majority of states want a combination of vertical and horizonta…