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During the meeting, the prime minister also reviewed the progress towards handling and resolution of grievances related to the Central Public Works Department (CPWD) and the Directorate of Estates and asked the Urban Development ministry to proactively monitor the same, with sensitivity, the statement said. Prime Minister Narendra Modi today asked all chief secretaries to work expeditiously towards ensuring that all traders register under the GST regime before August 15, a PMO statement said. He conveyed this while chairing a meeting of Pro-Active Governance and Timely Implementation (PRAGATI), a multi-modal platform through which he interacts with top officials of state governments via tele-conferencing. GST was rolled out on July 1, ushering a new system of indirect taxes in the country. During the meeting, the prime minister also reviewed the progress towards handling and resolution of grievances related to the Central Public Works Department (CPWD) and the Directorate ...

Overall, market sentiment was buoyed after the rollout of the goods and service tax (GST) from July 1. Benchmark Nifty50 index was 84 points up at 9,604, while the 30-share Sensex was 287 points up at 31,208 around 1 pm (IST). On the NSE, 52 securities, including Aditya Birla Nuvo, Asian Granito, Bhansali Engineering Polymers, Aditya Birla Money and Colgate Palmolive (India) hit their fresh 52-week high. In the Nifty50 pack, 35 stocks were trading in green, while 16 stocks were in red. You May Also like:    Aditya Birla Financial Shares of RattanIndia Power (up 9.55 per cent), ITC (up 5.99 per cent), Ashok Leyland(up 5.75 per cent), Raymond (up 5.15 per cent) and Dilip Buildcon (up 5.01 per cent) were among the stocks that surged over 5 per cent on BSE in Monday's trade. However, Accel Frontline, Central Depository Services (India), Coal Indiaand DQ Entertainment (International) were among 28 securities that hit fresh 52-week low.

Union Minister Nirmala Sitharaman today allayed fears over whether the prices of essential commodities would rise post implementation of Goods and Services Tax, saying no fresh rates would be imposed on those goods which already come under tax ambit. "There is no separate explanation to public and another for traders. It is all the same. The price of essential commodities will not rise (post GST)", the Commerce and Industries Minister said here. Sitharaman was speaking to reporters at the sidelines of a conference organised on Goods and Service Tax for traders. Explaining about the tax structure under GST, she said "I am answering those who raise queries whether there will be an increase in price of essential commodities post GST". "Rate fixed in GST is Revenue Neutral Rate, which means suppose if there is a tax for a particular product, it comes under GST. If a new tax rate is fixed, it is comparatively less to the existing structure. So, the price of essent...

The Goods and Services Tax (GST) is expected to be positive for multiplexes. The Goods and Services Tax (GST) is expected to be positive for multiplexes. This is primarily owing to the input tax credit (ITC) expected on the fixed costs that a multiplex incurs like rental, CAM, electricity, etc., says an ICRA note. GST has been fixed at the rate of 28% for tickets priced over Rs. 100 and 18% for tickets priced less than Rs. 100 for the movie exhibition industry. Though it is higher than the industry’s expectation of a standard rate of 18%, thereby toning down the previously expected positive impact on the industry’s margins, on a net level, the impact still is expected to be positive. According to Mr. Shubham Jain, Vice President and Sector Head, ICRA “The new simplified GST for the multiplex industry will facilitate players to conduct their business. So far, the industry has been operating under differential tax regimes across states. Overall, we expect the impact of GST to be po...