Search Results for: Narendra

Narendra Modi and Arun Jaitley want to revive housing with a big GST rate cut

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The Prime Minister’s Office & Finance Ministry are in favour of a big GST rate cut on housing and are working to build consensus with states to push this through at the next GST Council meet on December 22, ET Now learns from reliable sources. The intent is to be consumer friendly, and bring home buyers back to the market with a much cheaper GST rate. Sources say there are currently two proposals on the table. The first proposal is…

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Working to bring 99% things in sub-18% GST slab: PM Narendra Modi

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Indicating that further simplification of the Goods and Services Tax is on the anvil, Prime Minister Narendra Modi said his government wants to ensure that ’99 percent things’ attract sub-18 per cent GST slab. Before implementation of the GST, registered enterprises only numbered 65 lakh, which has now risen by 55 lakh, Modi said, addressing the Republic Summit here, Moneycontrol had first reported. “Today, the GST system has been established to a large extent and we are working towards a position…

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Govt working on new consumer protection law: PM Narendra Modi

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Prime Minister Narendra Modi today said a new consumer protection law is on the anvil to crackdown on misleading ads and ensure that grievances are redressed in a time-bound and cost-effective manner. Narendra Modi also said the government has enacted a new GST law which will benefit consumers in the long run as prices would come down because of competition among manufacturers. “Stringent provisions are proposed against misleading advertisements. A Central Consumer Protection Authority with executive powers will be constituted…

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PM Narendra Modi to States: Set up teams to boost GST registrations

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Prime Minister Narendra Modi has asked all states to form special teams and carry out drives to increase the number of traders registered under the GST. He gave the instructions at a PRAGATI (Pro-Active Governance and Timely Implementation) meeting with top central and state officials on August 30 where he reviewed the progress of GST registrations. According to officials, the PM told states that the teams should go out and guide traders who have to register under the GST regime….

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Transport performance up through 30% way to GST: Narendra Modi

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The Goods & Services Tax (GST), which was rolled out in India on July 1, and its beneficial impact on the transportation sector has, for the second time, found mention in prime minister Narendra Modi’s nation-wide comments.   Following up on the subject first addressed in the ‘Man Ki Baat’ radio programme on July 30, the prime minister spoke about the considerable reduction of time and costs following GST within barely 45 days of the implementation of the reformative tax….

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GST means ‘Going Stronger Together’, says PM Narendra Modi

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Ahead of Monsoon Session today, Prime Minister Narendra Modi said that the successful launch of the Goods and Services Tax would infuse fresh energy in the Parliament session. Giving a new definition of the Goods and Services Tax, PM Modi said, “GST means Going Stronger Together”. Modi also said, “Just as rain brings typical fragrance from the earth, the successful launch of the GST would give new enthusiasm to the Monsoon Session.” The Goods and Services Tax  was launched on July 1…

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GST: PM Narendra Modi satisfied with readiness for July 1 implementation

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Nearly sealing the goods and services tax (GST) implementation from July 1, Prime Minister Narendra Modi reviewed the preparedness, asking that high attention be given to cyber security in the enabling information technology (IT) systems. The main problem now is that seven states — the other 22 have done it — are yet to pass their respective state GST legislations, with less than a month for the scheduled date of the tax’s introduction. These are West Bengal, Meghalaya, Punjab, Tamil…

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PM Narendra Modi’s GST Challenge Makes Donald Trump’s Tax Overhaul Look Easy

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The challenge is daunting: Convert an economy of more than 1 billion consumers, 29 states, 22 official languages, 9 million businesses all operating under a spider’s web of taxes, arcane regulations and competing political ambitions into a unified common market. But that’s the goal as India gets ready to roll out a goods-and-services tax after a 10-year battle to win over the country’s powerful states and fractious federal parties. Designed to free up trade, foster tax compliance and make it…

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FM asks GST officers to proactively address issues faced by biz in tax compliance

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Finance Minister Nirmala Sitharaman on Wednesday asked GST officers to foresee the issues faced by domestic businesses and address them proactively so that they can compete on a global scale and build a self-reliant India. In a message to tax officers on the third anniversary of Goods and Services Tax (GST), Sitharaman also said there is scope for easing compliance further for taxpayers, especially MSMEs. Asking taxmen to focus on the clarion call by Prime Minister Narendra Modi for an ‘Atmanirbhar Bharat’, she said for this…

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GST Council Likely To Meet In Second Week Of June

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The GST Council is likely to meet in the second week of June according to media reports. The Council meeting will discuss the impact of the coronavirus pandemic on the economy of states, among other things. The meeting of the GST council comes in the wake of repeated requests from state chief ministers in their video interactions with the Prime Minister for releasing dues to the states. The GST council meeting is likely to discuss steps to raise compensation collections to clear…

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