Former World Bank Chief Economist said its economics is complex; collateral damage is likely to far outstrip benefits
No consensus could be reached on the issue in the previous week's meeting
A provisional identification number for the assesses who have moved to the new portal is being generated, the chairman said
Hopes the higher gain in services tax as state is bigger consumer of services
High business optimism was also complimented by the rise of employment expectations
Kerala, WB and TN have pressed for exclusive state control over those with annual turnover up to Rs 1.5 crore
Legal experts share insights on how to defuse potential dispute-generating issues
The report said that the new GST structure would as a result be non-inflationary
IBA has expressed disappointment at the re-categorisation of aerated drinks under 'demerit' category in the GST rate slabs
He said the government has decided on slabs like nil rate, 5, 12, 18 and 28 per cent and then a 'sin tax' of 60 per cent plus cesses
The government needs to improve the proposed definition and exclude securities from the definition of 'goods', according to tax experts
The multi-tax structure would pose many issues around taxability and classification of the goods and service
'We would be happy if the GST Council agrees to horizontal division for all the taxes,' says K Pandiarajan
While industry demand of 5% slab may be denied, unlikely govt will impose 18% as insurance is a protection/savings product
Arun Jaitley argues that multiple GST rates are needed to prevent the tax falling too hard on the poor
The tax rates would range from 5 to 28 percent, with 12 percent and 18 percent as standard rates
CEA says the Council has taken decision to bring down rate from 6% to 5% and move few products from 26% to 28% but many go from 26% to 18%
Even if Opposition disrupts, it could suggest to Speaker of Lok Sabha that the two Bills be designated 'Money Bills'
Tax costs might even go down for commodities to be taxed at 5% provided the credits on procurements are fully allowed, they say
The tax could boost revenues through better compliance while making life simpler for businesses that now pay a host of central and state levies