Since the introduction of Goods and Services Tax from next month, the price of essential medicines may increase up to 2.29 percent. The government has fixed a 12 percent GST rate at the cost of most essential medicines. The current rate of tax on these drugs is about 9%.

Under the Goods and Services Tax (GST), traders, manufacturers and restaurants or Dhabas, who are doing business up to Rs 75 lakh per annum, can avoid flat GSTs by making flat GST of 1 to 5 percent and offering long-range returns and books. In the 16th meeting of the GST Council on Sunday, the scope of composition scheme has been increased from 50 lakh to 75 lakh rupees for such businessmen.

Actually, FMCG companies fear that they may have to face penalties after GST has been implemented due to their profit growth. Because of this, the companies are taking the middle course of their profits and penalties. In the provisions set out to stop profiteering under GST, it is also mentioned that after the GST is implemented, if any profits of any company or vendor is increased, then it will have to reach its customers.

The Finance Ministry is considering the approval of such 4 to 5 proposals for the merger of government banks. The ministry can approve the merger of these banks till the current financial year. The Government’s plan is to create 4 to 5 global level banks of the world from the merger of banks.

RBI’s fiscal year can cut rates up to just 25 basis points in 2018, as the risk of inflation could increase in the remaining time of the year. This opinion is said by most people in an ET poll made between bond traders, treasury heads and bond fund managers.

The Goods and Services Tax (GST) Council on Thursday fixed tax rates on 1211 items.

Prime Minister Narendra Modi can keep the words of the new Goods and Services Tax (GST) in front of the world with emphasis on Germany, Russia and the United States.

This can be done keeping in view the security concerns. A new policy will be made in this regard. Under this policy, new conditions will be decided for foreign companies who look at billions of dollars in the market.

GST Council has fixed a tax slab while stepping in to implement the new tax system. Probably, with the Goods and Services Tax to be implemented from July 1, the rates are currently set to 1,211 items. Most of these items are kept under 18% slab. Learn about which items will be charged. No taxes will be charged on these items.

Since the introduction of the Company’s Act Provisions and especially in the context of Sec. 180, 185 & 188 etc., ‘Ordinary course of business’ word becomes the matter of discussion. Like, as per section 188.

The good days of real estate in Delhi-NCR are not currently returning. Although the property market is recovering after the ban on bank postings, recent legal changes have put a double pressure on demand and prices. According to the estimate of the next three months of Property Portal MagicBricket, there is no scope for prices to increase in 70 to 90% of the areas.

Like many industry associations and others, the Ministry of Finance has received many products from outside the realm of GST or minimum tax demand. But, the Ministry is in favor of keeping the list of exemptions short.

With the introduction of Goods and Services Tax (GST) in July, many opportunities for gold trade can open in the country. India is the second largest consumer of gold in the world.

If someone has recently spent any expensive thing or service or made a big investment, but according to all its declared income, then the income tax department will not scrutinize its accounts.

The process of implementing the ‘biggest economic recovery’ of GST from July 1 is going on fast. Even though the Central and State Governments are welcoming GST openly, they have kept around one-third of the revenues out of the realm of GST, so that consumers can not get the benefits of cheap goods and services.