The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the following four GST related bills: The Central Goods and Services Tax Bill 2017 (The CGST Bill) The Integrated Goods and Services Tax Bill 2017 (The IGST Bill) The Union Territory Goods and Services Tax Bill 2017 (The UTGST Bill) The Goods and Services Tax (Compensation to the States) Bill 2017 (The Compensation Bill) The above four Bills have been earlier approved by the GST Council after thorough, clause by clause, discussion over 12 meetings of the Council held in the last six months.The CGST Bill makes…
Author: Aruna Sharma
(HT) The Cabinet may take up for discussion and clearance on Monday five draft laws on Goods and Services Tax (GST) needed to implement the country’s biggest tax regime from July 2017. “The Bills will be taken up by the Cabinet and after its approval they will be introduced in the Parliament,” a finance ministry official told Hindustan Times. The Narendra Modi government is racing against time to roll out GST from July, after successive governments have missed several deadlines.The GST Council headed by finance minister Arun Jaitley has cleared all the five draft laws–Central GST (CGST), Integrated GST (IGST), Compensation…
(FE) Oil prices fell on Monday as rising US drilling activity and steady supplies from OPEC countries despite touted production cuts pressured already-bloated markets. Prices for front-month Brent crude futures, the international benchmark for oil, were 20 cents below their last settlement at 0025 GMT, at $51.56 per barrel. US West Texas Intermediate (WTI) crude futures were down 28 cents at $48.50 a barrel. Traders said that prices were under pressure due to rising U.S. drilling activity and ongoing high supplies by the Organization of the Petroleum Exporting Countries (OPEC) despite its pledge to cut output by almost 1.8 million…
(FE) The benchmark BSE Sensex fell almost 129 points in early trade today due to profit booking by investors after recent strong gains. The 30-share barometer declined 128.72 points, or 0.43 per cent, to 29,520.27 points, with shares of IT, Teck, metal, banking, oil & gas and capital goods trading with losses. The index had gained 250.88 points in the last two sessions. Also, the NSE Nifty fell by 31.55 points, or 0.34 per cent, to 9,128.50. Brokers said investors booked profits after recent strong rally in stocks. The Sensex had rallied by 702.76 points to 29,648.99 in the last week…
(FE) In a move that could fetch the government upwards of R50,000 crore, a host of pension funds, sovereign funds and private equity funds may invest in the 75 road projects to be bid out in the toll-operate-transfer (TOT ) mode. Players such as Macquarie, Abu Dhabi Investment Authority, Canada Pension Fund, Brookfield Asset Management, and IDFC Alternatives in India are understood to have shown keen interest in these projects. National Highways Authority of India (NHAI) officials are believed to have indicated to players the first lot of projects could be up for bidding as early as April. The TOT model…
(AU) गोवा, उत्तराखंड और उत्तर प्रदेश में सरकार बनाने के बाद भाजपा के लिए अगली चुनौती मणिपुर में सरकार बनाने की है। सोमवार को फ्लोर टेस्ट होना है। भाजपा विधायक बिरेन सिंह को विश्वास मत दिलाने के लिए एकजुट हो गए हैं। इंडियन एक्सप्रेस की खबर के मुताबिक एक निर्दलीय और एक तृणमूल कांग्रेस विधायक के साथ भाजपा के विधायकों ने गुरुवार से एक होटल में शरण ले रखी है, जहां रणनीतियों पर विचार चल रहा है।विधायकों को होटल में रखने के पीछे वजह बताई जा रही है कि शहर में अगर वे रहेंगे तो उन्हें भ्रमित किया जा सकता…
(AU) भाजपा को यूपी और उत्तराखंड में मिली ऐतिहासिक जीत के बाद राजनीतिक हलकों में ऐसी अटकलें हैं कि पार्टी गुजरात में विधानसभा चुनाव समय से पहले कराने का दांव खेल सकती है।आधिकारिक तौर पर भले ही भाजपा ऐेसी किसी संभावना से इनकार कर रही हो लेकिन पार्टी और विपक्ष के कुछ नेताओं का मानना है कि गुजरात में ऐसा हो सकता है। राज्य में दिसंबर में विधानसभा चुनाव होने हैं। लेकिन चर्चा है कि यहां जुलाई अथवा सितंबर में चुनाव कराए जा सकते हैं। यूपी विधानसभा चुनाव के नतीजों के बाद गुजरात में समयपूर्व चुनाव कराए जाने की संभावना…
(ET) State-owned Oil and Natural Gas Corporation (ONGC) has signed definitive agreements to buy out debt-ridden GSPC’s entire 80 per cent stake in KG-basin natural gas block for $1.2 billion. “Subsequent to board approving the deal on February 23, we have now signed farm-in and farm-out agreements,” a senior company official said. The company will close the deal and pay the Gujarat State Petroleum Corporation (GSPC) the money after regulatory approvals like government nod for transfer of PI (participating interest) and change of operatorship are secured. “We are hopeful that the deal will be closed in April,” he said. ONGC…
Having links with RSS and Vishwa Hindu Parishad, BJP state president and Phulpur MP Keshav Prasad Maurya (48), first came to limelight in April, last year, when he was announced as BJP’s surprise pick for the post of Uttar Pradesh party president. With Maurya (48) belonging of the backward Kushwaha caste, he was projected as the party’s OBC face, as it tried to develop a base among the non-Yadav OBCs. He was first elected as a member of UP Assembly from Sirathu in Kaushambi district in 2012 polls, following a few unsuccessful attempts. In 2014 Lok Sabha polls, he won…
(PTI) The Cabinet on Monday may take up for approval the supporting GST legislations, which will then be introduced in Parliament as the government sprints to meet the July 1 target date for rollout of the new indirect tax regime. A set of four supporting legislations — the Compensation Law, the Central-GST or C-GST, Integrated-GST or I-GST and Union Territory-GST or UT-GST — are likely to together go to the Cabinet for approval. Sources said the Cabinet meeting has been called for Monday morning and the agenda list may not be very long.The GST Council, in its previous two meetings, had…