AAP ruled Delhi could ratify the Bill during assembly session from Aug 22
He emphasised in Lok Sabha that passage of GST Constitution Amendment Bill by Parliament highlighted success of democratic ethos of country
Kharge also said the government should not try to push the GST bill as a money bill
P Venugopal of ALADMK opposed the bill, saying Tamil Nadu is a manufacturing and originating state which will suffer while consuming states will benefit
Investment in mutual funds will become costlier by 300 basis points or 3%, says experts
GST will attract investments to the state in manufacturing sector on account of its better infrastructure
Interview with Finance Minister of Kerala
The Rajya Sabha has no power to amend a money Bill and the ruling coalition does not have a majority in there
However, deadline may be hard to meet if resolution of issues like rate of tax and items to be exempted take longer
Finalisation of the tax rate depends much on the classification of goods and services under the exempted category, and also under nominal tax rate
It's suddenly becoming a reality and they're finding a number of worry points; observers suggest they hasten their feedback while there's still time
It's suddenly becoming a reality and they're finding a number of worry points; observers suggest they hasten their feedback while there's still time
PM Modi is likely to intervene during the debate on the Bill in Lok Sabha
The Make in India initiative will get a significant boost as companies would be able to create manufacturing and industrial hubs across the country
Says, it is unclear whether administrative and technological set-up required to make the transition will be up and running by then
Companies also want services like telecom, banking, healthcare and railways to be included in the 'merit' list to keep inflation in check
At present, the UT imposes no sales tax, but only an octroi when any product enters the chain of islands in the Bay of Bengal
GST will alter the present system of production-based taxation to a consumption-based one
Indian equities have been witnessing positive inflow from foreign investors since March
The discussion in the meeting of state finance ministers on the empowered committee for the goods and services tax (GST) saw heated debate on the use of the words "may" and "shall". West Bengal Finance Minister Amit Mitra said as much when he said the fine print of GST should be written with no ambiguity. Elaborating on how ambiguous use of words could lead to misinterpretation, he said, "Today the key point is safeguarding states' interest. The language of the constitutional amendment has to be 100 per cent clear. For example, in government files, we often see the use of the word 'may'. In some legal terminology it may mean 'shall'. If it means shall, why not call it 'shall'. I hope, at the end of the day, the language of the constitutional amendment comes out as 'shall'." What people don't know is, things reached such a pass that a dictionary had to be procured to analyse accurately the difference between "may" and "shall".