Ficci to have dialogue with states on GST
Heeding to Finance Minister Pranab Mukherjee's suggestion, industry chamber Ficci today said it will reach out to the states disagreeing with proposed Goods and Services Tax (GST) provisions to resolve their apprehensions.
The Centre and the states are engaged in talks over the proposed GST for about four years. Since 2007, the government has been trying to introduce the new tax regime, under which GST will subsume most of the indirect taxes of the Centre and the states.
Budget: India Inc can’t ask for more
FM chose not to hike excise and service tax rates. Instead he cut corporate surcharge only marginally... now there are high expectations about a single GST rate.
India Inc has many reasons to feel happy about the Budget. First of all, corporates which did not have high expectations in the run-up to the Budget, are getting clear signals that GST (Goods and Services Tax) regime is finally on the way.
Some GST exemptions to continue
NEW DELHI: The central government is willing to continue with some exemptions and threshold limits to ensure early implementation of the proposed goods and services tax (GST) system, Central Board of Excise and Customs chairman S.D. Majumder said Monday.
"We are not aiming for a perfect GST. We are aiming for a good GST," Majumder said at a conference organised here by the American Chamber of Commerce in India (Amcham).
