On being asked if the Centre will take a proposal for bringing petrol and diesel under GST to the GST Council, the finance minister said a call will be taken \"closer to the date of the Council meeting.\"

The Ecowrap report, authored by Dr Soumya Kanti Ghosh, Group Chief Economic Adviser, State Bank of India stated that Centre and states do not want to bring oil products under the GST regime as sales tax and VAT comprise a major source of tax revenue

SC says there is no obligation on a person to deduct tax at source, as the end-user licence agreements in these cases do not create any interest or right in such end-users, which would amount to the use of or right to use any copyright

Currently, the price of one litre of petrol stands at Rs 91.17 per litre in Delhi, and diesel rates stand at Rs 8.47 per litre. In Mumbai, the price of petrol is Rs 97.57 per litre, and that of a litre of diesel is Rs 88.60 per litre

The focus on self-reliance, innovation, research and development, infra capex and digital payments in Union Budget 2021 would definitely help in lifting the Indian economy from under $3 trillion to $5 trillion in the near term

Vivad se Vishwas Scheme has received 15 times better response in comparison to Direct Tax Dispute Resolution Scheme (DTDRS) in 2016; the disputed amount settled under it is 153 times that of DTDRS

With a fiscal deficit of 9.5% of GDP, there was limited scope for any significant tax concessions in Budget 2021

Experts are expecting tax relief under multiple heads in Budget 2021-22. This despite the Centre staring at a gaping hole on the revenue front in the current financial year due to the pandemic

Budget 2021: Last year, Centre announced production-linked incentive (PLI) scheme for 13 industries in two tranches. The aim is to improve manufacturing capabilities and exports in these sectors

The inclusion of a statement on policy announcements on GST in the budget, of an intent to resolve these tax issues, will not only have a positive impact on the broader economy but also reaffirm confidence in the cooperative federalism model for tax policy

Economic Survey: Longer term sustainability depends crucially on reviving growth relative to the interest cost of government debt, says Economic Survey 2020-21

Expectations from the upcoming budget are huge in terms of giving relief to the current economy, increasing ease of doing business, and recovering from a negative GDP

The stakeholders are keenly eyeing the much-anticipated regulatory changes in incentivising the domestic and foreign investments, easing the compliance burden on startups, among other measures, during the Budget 2021

Even though the government is staring at a gaping hole on the revenue front in the current financial year due to the pandemic, tax practitioners are expecting tax relief under multiple heads in the estimates for 2021-22

Budget 2021 would be unprecedented in many ways, as the government would have to focus on providing stimulus packages to revive the economy, while also identifying other avenues of revenue to bridge the widening fiscal deficit

\"The two per cent interest subvention scheme on loans has truly supported Indian MSMEs. We would like to propose that the scheme be further extended with enhanced coverage,\" Indian Chamber of Commerce president Vikas Agarwal said

Natural gas is currently outside the ambit of GST, and existing legacy taxes -- central excise duty, state VAT, central sales tax -- continue to be applicable on the fuel

The government has notified the mandatory requirement of e-invoicing for B2B transactions for businesses with a turnover of over Rs 100 crore with effect from January 1, 2021

The government has reportedly challenged the international tribunal's September verdict that ruled in favour of Vodafone Group Plc in the Rs 22,100-crore tax dispute case

The PM says said post-Covid-19 order will be about re-learning, re-thinking, re-innovating and re-inventing. \"This, along with a series of economic reforms in almost every field is what will re-energise our planet,\" adds PM Modi