Page 204 - Gst

Semantic debate on the fine print of GST

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".

Nine BJP-ruled states may ratify Bill on GST by month end

PM to speak on new tax regime in Lok Sabha on Monday

How PM and Jaitley ensured GST passage

The BJP members in the Rajya Sabha were under strict instructions to not get provoked by Opposition members during the discussion

Senior ministers suggest to nine BJP-ruled states to call special sessions

PM to speak on GST on Monday in LS; In RS, govt scores moral victory on issue of money Bill

Warehousing costs to fall, transport demand to surge

Logistics firms have warehouses in all states but after the GST comes into play they can set up fewer and better located facilities

GST bill in LS likely on Monday, BJP issues whip

BJP has asked its members to be present in the House on Monday to ensure its smooth passage

Odisha demands CST compensation on implementation of GST

Centre would take steps for enactment of CGST and IGST Act, the states would enact SGST Act

Govt firm on April 1 deadline for GST

Jaitley's team sees limited impact on inflation, says software will be ready in three-four months

Centre may take money Bill route for next GST laws

Hopes to continue to isolate Congress in Rajya Sabha

Small cars, two-wheelers set for a cheaper ride

Maruti Suzuki, Tata Motors and Hyundai stand to gain the maximum, given their large portfolio of products in the sub-4 meter segment

GST: Power firms left guessing

Cost escalation, abolition of tax holidays loom

GST to push up inflation in the short term

Implementation of the GST in the near term could bring some upturn in inflation, said Morgan Stanley in a report

New regime to cement real estate sector, benefit buyers

Sector experts believe the proposed GST would streamline the domestic supply chain and have a beneficial effect for home buyers

Telcos urge govt to listen up, want uniform GST rate

Analysts are assuming that if the effective GST rate is at 18%, then telecom subscribers will have to shell out a little more as the current service tax rate is 15%

GST could lead to 8%-plus yearly growth: Shaktikanta Das

Interview with Economic affairs secretary

Lack of clarity clouds e-tail bonhomie over GST

The issues of concern include GST being levied on stock transfers from sellers to warehouses and taxes on discounts as well as freebies offered by e-commerce companies

A mixed prognosis for pharma sector

If the taxation structure for essential medicines changes within the GST regime, prices of drugs could increase significantly

FMCG firms brace for a taxing time

Consumer goods makers, including consumer staples and durables, say the taxation rate will be critical to determine how effective GST is

Retailers' shopping list: Centralise logistics and supply chain

Post GST, warehousing costs and inventory levels will come down by half

Suman Bery: A night to remember

Though the road ahead for GST is pretty long, Wednesday's landmark legislation is good news for world economy