GST exemptions list to have under 100 items

New Delhi: In an effort to minimize the number of exemptions under the goods and services tax (GST), the centre and the states have agreed to restrict this list to less than 100. In a GST regime, the centre and the states will have one common list of exempted goods and services. At present, while […]

From GST to TPP

External integration in the Asian region is entering a new phase with negotiations for the Trans Pacific Partnership (TPP) the Regional Comprehensive Economic Partnership (RCEP) and other bilateral agreements. The consensus holds that the benefits of integration are significant, with income gains that override trade diversion and other costs. Indeed, these regional agreements could generate domino […]

Parthasarathi Shome: GST – Remains of a decade

In the last mile, many essential components of a robust goods and services tax have been shaved off. India is rushing towards a so-termed GST replacing service tax and excises (or CENVAT) at the Centre and VAT and small consumption taxes of the states. In a decade-long process of replacement, major successes were occurring to […]

Bengal govt supports new GST Bill, says Amit Mitra

The West Bengal government has no reservations over the proposed GST Bill and will support the Centre’s key reform measure, state finance minister Amit Mitra said today. “I don’t think anybody has any reservations from our side. It is in our (Trinamool Congress) manifesto and Mamta Banerjee has spoken in its favour,” Mitra told reporters […]