With all but 50 items removed from the highest GST rate slab, collections in October fell to Rs 83,346 crore from over Rs 92,000 crore in September, official data showed on Monday.
The GST Council recently reduced the tax rate on 178 items from 28 percent to 18 percent and also brought all AC and non-AC restaurants in the five percent GST bracket without the Input Tax Credit (ITC).
Topics ranging from 'potential areas of conflict and litigation under GST' to 'comparative analysis of concepts: GST vis-a-vis Central Excise, Service Tax and VAT', were discussed.
The GST Council, chaired by Union Finance Minister Arun Jaitley and comprising his state counterparts, had last week lowered tax rates on over 200 items.
The decisions in the GST Council are "all consensus decisions," he said. "This is really juvenile politics to link it with either elections or political demands".
The fourth bi-monthly monetary policy statement for 2017-18, to be released today, is being keenly awaited by all stakeholders.
Trai said the new call termination charge will be applicable from October 1, 2017, and will be completely eliminated from January 1, 2020.
The Reserve Bank's decision to lower the benchmark rate by 25 bps to 6 per cent yesterday was already priced in, which is why there is nothing to cheer, dealers said
Industry believes the RBI's move to cut interest rates by 0.25 per cent was long due, but there was more that could have been done
The government had been pitching for a rate cut to boost economic growth amid retail inflation falling to a historic low of 1.54 per cent in June
The cut in the key lending rate comes on the back of the sharp dip in retail inflation over the past few months. The revised repo rate at 6 per cent is the lowest in six-and-a-half years since November 2010
The 30-share Sensex spurted by 111.31 points, or 0.34 per cent, to hit a new peak of 32,686.48, breaking its previous intra-day record of 32,672.66 hit on July 27
It is the policy week and all hopes are set for an interest-rate cut when the RBI's monetary policy committee meets on August 2
Reserve Bank f India’s rate cut of 25 basis points has failed to enthuse equity markets, with the BSE Sensex plunging 516 points to end at 24,833.16 points. Nifty too cracked 155.60 points to and closed at 7,603 points.
Key benchmark index BSE Sensex today surged over 400 points while the broader index NSE Nifty reclaimed 7,700 mark in trade mainly on account of firm global cues and buying in frontline bluechip counters.
New Delhi: Finance Minister Arun Jaitley's decision to stick to the fiscal deficit targets of 3.9 per cent and 3.5 per cent for this year as well as the 2016-17 financial year respectively has sent markets
Mumbai: Soon after reduction in repo rate by the Reserve Bank, country's largest lender State Bank of India (SBI) on Tuesday slashed minimum lending or base rate by 0.4 percent to 9.3 percent, setting the
New Delhi: Bharatiya Janata Party's firebrand leader Subramanian Swamy has said that Prime Minister Narendra Modi must instruct Reserve Bank of India (RBI) Governor Raghuram Rajan to either cut rates or be ready to be
New Delhi: RBI Governor Raghuram Rajan on Friday said the central bank has not shut its door on rate cut and will take a view depending upon the evolving situation with regard to monsoon and
New Delhi: With inflation and fiscal deficit under control, bankers and industry leaders expect the Reserve Bank to lower its key policy rate today to support economic activity and boost investment.The wholesale price index based
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