Fadnavis added that if the opposition is so concerned about the high fuel prices, it should announce in the states ruled by the Congress or their alliance partners that there would be no tax on petrol and diesel.

A survey found that a fifth of 63 million small businesses faced a 20 per cent fall in profits since the GST rollout, and had to sack hundreds of thousands of workers.

Vanaja Sarna successfully oversaw the biggest tax overhaul in the country.

The total number of GSTR-3B filed for the month of July up to August 31, 2018, is 67 lakh. This is slightly higher than 66 lakh returns of the month of June filed up to July 31, 2018.

The GST Council had announced substantial GST rate cuts effective from July 27, 2018; including 28-18 per cent on consumer durables, domestic electrical appliances, televisions, storage water heaters, paints and varnishes, scent sprays, etc. and 12 per cent to nil on sanitary napkins

The stock has grown 561 per cent from Rs 98.30 on August 16, 2013 to Rs 640 on August 16, 2018. The Sensex has doubled during the same period. Meanwhile, its listed peers PC Jewellers and Titan Company rose 127% and 283.44%, respectively, during the last five years.

In November 2017, the GST Council had cut tax rates for all restaurants, except the ones located within hotels with room tariffs of Rs 7,500 and above, to 5 per cent.

Finance Minister Piyush Goyal on Thursday said the capacity to slash the GST rates on more items would go up as Goods and Services Tax (GST) revenues and the compliance rate increases and the economy formalises.

The new policy proposes to revamp the Industrial Policy of 1991, and has been billed as the first major overhaul in nearly three decades.

Another round of Goods and Services Tax (GST) rate cuts have been effected by the governing body GST Council, which met recently in Delhi for the 28th time.

The GST Council on Saturday cleared a proposal to offer cash backs to consumers on trial basis for digital payments through Rupay cards, BHIM app and UPI system to promote cashless transactions in rural and semi-urban areas.

Last month, the GST Council brought down the tax rates on several general-used items like TV (below 26 inch), washing machines and refrigerators from 28 to 18 per cent. The industry was demanding a lower GST rate on white goods ever since the GST was rolled out.

The Goods and Service Tax (GST) Council may replace 12 per cent and 18 per cent slabs with 14-15 per cent, Bihar Deputy Chief Minister and GST Council member Sushil Modi said on Thursday.

The industry, which had enjoyed various concessions under the previous tax regime, fears that the levy of 18 per cent GST on installation would render projects unviable.

Last year in November, the GST Council had slashed the tax rates for all restaurants, except the ones located within hotels with room tariffs of Rs 7,500 and above, from 18 per cent to 5 per cent.

The higher judicial forum for businesses means taxpayers will have a platform where they can raise tax disputes if they are not satisfied with appellate authorities or orders from the revisional authorities.

Bharti Airtel turns a surprise profit of Rs 97 crore in June quarter due to tax gainsIndian telecom conglomerate Bharti Airtel managed to defy street expectations and come out with a profit in the June quarter. After the slim profit the telecom major managed in the March quarter of the last fiscal, it seems to be finding its feet back in the competitive Indian telecom industry. Bharti Airtel posted a sequential rise of 17.37 per cent in its profit attributed to owners, which rose ...

The industry is optimistic that the tax cut will fuel demand and provide a new impetus for growth, especially ahead of the upcoming festive season.

Some of the other demands by the truckers include abolition of TDS, rationalisation of Income tax Act, smoother functioning E-way bill, national permit for tourists and buses and abolition of direct port delivery tendering system.

The much-awaited policy was given 'in-principle' approval at a high-level meeting by the PMO in March. Once the policy gets cabinet nod, all the commercial vehicles that are more than two-decade old will be taken off road from April 1, 2020.