Free Press Journal
  • Demonetisation, GST to fetch more revenues to government: Arun Jaitley

    Visakhapatnam: Finance Minister Arun Jaitley today put up a spirited defence of demonetisation, saying the drive “shook” the financial system for a short while, but will integrate the shadow economy with the formal in the long run and ensure better tax compliance.

  • POEM rules target shell cos; exclude firms with sales below `50 crore

    New Delhi :  Targeting shell companies, the government on Tuesday issued new tax rules requiring foreign firms to pay taxes in India if the effective control of business, management decisions and majority of board meetings take place within the country.

  • Long-term, gold use looks good despite note ban: WGC

    Mumbai : Gold demand in India — the world’s largest consumer — has been affected in the short-term because of the shock demonetisation, but long-term prospects are encouraging with consumption to average at 850-950 per annum by 2020, the World Gold Council (WGC) said on Tuesday.

  • Tax officials tell Jaitley: GDP may slow down if GST implemented in hurry

    New Delhi: Claiming that demonetisation has affected country’s growth, a major central revenue body has asked Finance Minister Arun Jaitley not to implement Goods and Services Tax (GST) in a hurry and threatened to take legal recourse in case their concerns are not addressed.

  • Light at the end of the tunnel for GST

    It is an index of the imperfections in our democratic system that despite a plethora of benefits accruing to the country from this measure, some states are trying hard to prevent it from going forward. That hard negotiations will ultimately bring them around is a hope that the Centre is entertaining.

  • Service tax likely to be hiked to 18 pct this budget

    New Delhi: Most services are likely to attract a tax of 18 percent under the Goods and Services Tax (GST) as Union Finance Minister Arun Jaitley presents the Union Budget on February 1.

  • GST rollout on July 1, consensus on dual control

    New Delhi: In a significant break-through in implementation of India’s biggest tax reform, the deadlock over administration of GST ended on Monday after the Centre agreed to allow states control over most of small taxpayers, but the rollout date was pushed back by 3 months to July 1.

  • Jaitley looks to break deadlock over GST issues today

    New Delhi : Finance Minister Arun Jaitley will on Monday look to break the deadlock over distribution of powers between centre and states to administer GST, an issue that is holding up launch of the new national sales tax from April.

  • High policy risks and weak investment outlook going forward: Credit Suisse

    Mumbai: The next 12-15 months are likely to see uncertainty for the markets on account of continued policies by the government against black money as well significant global events, Credit Suisse said. Accordingly, the Swiss brokerage said the investment outlook looks weak going forward, reports PTI.

  • Thaw in anti-Congressism? Courtesy Narendra Modi

    WHILE the Congress has been the BJP’s primary target, the saffron party has since widened the ambit and escalated the conflict to non-Congress states.

  • Indore: No Traders Identification Number to be cancelled forcefully

    Indore: Commercial tax department (CTD) would not forcefully cancel Traders Identification Number (TIN) of those merchants forcefully, who are unwilling to migrate to Goods and Services Tax (GST) portal. CTD would withdraw a circular issued in this regard and release an amended one on Tuesday.

  • GST deadlock continues over dual control, high sea taxes

    New Delhi :  The deadlock over the Goods and Services Tax (GST) continued on Wednesday with the Centre and states refusing to budge from their respective positions on issues like control of tax payers and taxing high sea trade, a stalemate that threatens to delay the rollout till September.

  • FM hopes to resolve dual control issue in next GST Council meet

    New Delhi : Admitting that the Goods and Services Tax (GST) Council was racing against time on the government’s implementation target of April 1, Finance Minister Arun Jaitley on Wednesday said it is hoping to resolve the vexed issues of Integrated GST (iGST) and dual control over assessees in its next meeting on January 16.  “We know the difficulties, we are moving against time.

  • Comm Ministry for exempting exports from GST Council

    New Delhi : Commerce and Industry Ministry on Tuesday pressed the GST Council to keep exports out of the GST framework and levy lower taxes on labour-intensive sectors like leather, cement and plantation.

  • GST rollout unlikely before June-July

    New Delhi : Rollout of the Goods and Services Tax (GST) regime may only be possible by June-July as the possibilities of meeting the April 1 deadline are bleak now in view of the GST Council’s slow progress, some council members said on Tuesday.