GST Bill hits hurdles in Odisha Assembly

The GST is a destination-based single tax on the supply of goods and services from the manufacturer to the consumer and is one indirect tax for the entire country.

The GST Council had earlier agreed on a four-tier tax structure - 5, 12, 18 and 28 per cent - along with a cess on luxury and sin goods such as tobacco, pan masala and aerated drinks. The rates fixed will be charged from July 1, the scheduled date for rolling out GST.

Kerala Finance Minister Thomas Isaac made a case for 5 per cent tax on gold under GST instead of 1 per cent being demanded by some quarters as he felt that the precious metal is not an essential commodity. Kerala also favours revenue neutral fitment of tax rates so that it does not lead to either drop or rise in tax revenues of the government. "It is not a commodity for the poor". The two-day crucial meeting is being held at the Sher-e-Kashmir International Convention Centre (SKICC) in Srinagar. Total debt for the sector is at around Rs 4.5 lakh crore, while revenues are around than half this.

"We should have given more time to go through the GST and VAT Bills", Mishra said.

Notably, a workshop on the GST was organised on Wednesday for the legislators, where some of them said they did not understand some of the clauses of the proposed legislation.

Jammu and Kashmir is the only state in the country that has a constitution of its own which is applicable here concomitantly with the Indian constitution. He said J-K, which is the only state enjoying special taxation powers, will make necessary changes to pass the GST bill, which is billed as the biggest tax reform in the history of independent India. However, with 12 or 18 per cent tax, services are expected to get more expensive. The list will be exempted from the service tax, this includes religions pilgrimage, education, healthcare, journalistic activities, education and skill development.

Related:

  • At fan meet, Rajinikanth hints at political plunge

    At fan meet, Rajinikanth hints at political plunge

    Hinting at joining politics, Rajinikanth said, "You have responsibilities and so do I. go home and do the needful". Since then, politicians have misused my name on several occasions. "My fans have made me a Tamilian".

    Proposed Laptop Travel Ban Would Wreak Havoc on Business Travelers

    A ban on electronic devices larger than a smartphone was introduced on flights to the U.S. from 10 airports back in March. The IATA estimates that the restrictions would affect 390 flights a day if applied to all of Europe .
    Tigers homer twice off Bundy, edge Orioles 6-5

    Tigers homer twice off Bundy, edge Orioles 6-5

    Not only does Martinez have five homers in six games since coming off the disabled list, but he's walked a remarkable nine times. Bryce Harper hit his 13th home run and Ryan Zimmerman delivered a two-run double to lead Washington to a win over Pittsburgh.
  • Diarrhea From Swimming Pools Rising

    Diarrhea From Swimming Pools Rising

    Even if a pool is properly maintained, Crypto can still pose a challenge, as it's able to survive up to 10 days in clean water. Experts are unsure if the parasite is becoming more common, or if the reason for the spike is simply more people reporting it.

    Chelsea Manning has been liberated

    After the sentencing, the ex-intelligence agent changed her name to Chelsea Manning and identified as transgender. Whatever is ahead of me, is far more important than the past, The Guardian quoted Manning, as saying.
    Keith Urban's National Anthem for the Nashville Predators

    Keith Urban's National Anthem for the Nashville Predators

    God Bless", said the star. "It was presented to me as a one night only kind of thing and I agreed to it", Morgan said. Underwood wrote on Twitter before Friday's (May 12) NHL Stanley Cup Playoffs game against the Ducks.
  • Gap posts surprise same-store sales rise as Old Navy shines

    Gap posts surprise same-store sales rise as Old Navy shines

    While arriving at a price target, analysts and investors alike use various metrics to determine where the stock might be directed. After a recent look, shares have been seen -2.79% from the 200-day moving average, and -3.42% from the 50-day moving average.

    Salient features of ICJ's ruling on Kulbhushan Jadhav case

    The judges said India had a "plausible" argument that Pakistan violated global law by refusing to grant consular access to Jadhav. The worldwide court of justice, sometimes referred to as the world court, is the UN's court for hearing disputes between states.
    Wrong-way driver killed, 2 hurt in head-on crash in Maryland

    Wrong-way driver killed, 2 hurt in head-on crash in Maryland

    Laura Ashley Murphy, 22, of Salisbury, was the driver of the black 2017 Volkswagen Tiguan involved in the crash. A woman was driving on the wrong side of the road, police said, when she struck another vehicle head on.
  • Steve Mnuchin Walks Back Administration Support of Glass-Steagall

    Steve Mnuchin Walks Back Administration Support of Glass-Steagall

    The three have substantial footprints in commercial and investment banking, so their business models would be severely impacted. Mnuchin added, "There'll be a box that you have to check that says, I'm eligible for the business tax, which is 15 percent".

    Congressman calls for Trump's impeachment on House floor

    Green, who previewed his call with a tweet earlier, said it was the House of Representative's "duty" to take up impeachment. The president must be impeached!" Waters has received her fair share of impeachment backlash from Trump supporters.
    Warriors, Spurs will try to use break to rest and heal again

    Warriors, Spurs will try to use break to rest and heal again

    Spurs Coach Greg Popovich Coaching Spurs During Game 2 of Western Conference Finals. But I'll be better (in Game 3), and I'll definitely be better by next game.

Comments

Latest news

Chinese, S. Korean officials seek to mend rift with meetings
Trump said he expects positive results on the North Korean nuclear issue through close cooperation with the Moon administration. Shares in AmorePacific 090430.KS , its largest cosmetics firm, were up 0.9 percent.

Blizzard REVEALS new Skins and voice lines
All the Overwatch and Blizzard fans are in for a massive treat next week as the developer prepares for the big Anniversary Event. In the lead up to the event, Blizzard has revealed new skins for Soldier 76, Pharah, Bastion and Zarya (via PvP Live ).

Gay Couple Sentenced to 85 Lashes By Sharia Court
The appeal comes following the news that two gay men will be publicly caned 85 times for having sex out of wedlock. . Aceh is the only province in the world's most populous Muslim-majority country which implements Sharia law.

Trump reportedly asked Comey to consider imprisoning members of the press
He dismissed outrage over Trump's disclosures as USA politicians whipping up "anti-Russian sentiment". Gerhardt said Trump's recent comments and behaviour are "disturbing" and "justify a further inquiry".

Fiat Chrysler shares drop on US diesel emissions probe
The Commission may eventually decide to take the country to court if it is not satisfied with the answer. The European Commission had been mediating the dispute Germany and Italy, which ended in March.

Nigeria identifies 82 freed Chibok girls; parents await word
The girls said they wanted to go back to school so a nine-month reintegration programme was designed for them, the minister said. Boko Haram took the girls because they are against children - especially girls - getting an education, like they do in the UK.

$890m European Union package to help 79 developing nations combat climate change
That's quickly been reversed under President Trump, who is considering withdrawing the U.S. from the agreement entirely. A pared-down United States delegation at the annual round of technical negotiations was thus also left in the dark.

Winona County remembers fallen law enforcement
Bullhead City Police Chief Brian Williamson also used a personal connection to describe what the occasion means to him. Pittsfield Police Chief Michael Wynn says it honors law enforcement officers who have died in the line of duty.

14th GST council meet begins in Srinagar today
The full details of the goods and services, and the rates applicable thereof, are likely to be released officially on Friday. ACs and refrigerators will fall in the 28 per cent tax slab while life-saving drugs have been kept at 5 per cent rate.

Philippine Economic Growth Eases In First Quarter Of 2017
Meanwhile, the agriculture sector recovered with 4.9 percent growth from a decline of 4.3 percent from the previous year. Exports grew 20.3 percent in the first quarter from a year earlier and domestic consumption rose 5.7 percent.

Would Trump request to end Flynn probe have broken law?
The New York Times was the first to report on a February memo by Comey that suggested Trump asked him to lay off Flynn. Trump, with any notes or alleged tapes of their conversations, in order to sort through what was asked of Comey.

Ford To Slash Up To 20000 Jobs Worldwide
The automaker said on April 27 when it posted earnings for the first quarter than it was planning to cuts costs by $3 billion. Ford's global headcount sits at some 200,000 employees, so 10 percent comes out to about 20,000 potentially lost jobs.

Jack in the Box Inc. Shares Surge Despite Lowered Outlook
The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by $0.06. Shares of Jack in the Box Inc . closed the previous trading session at 101.89 up +2.33 2.34% with 1,949,348 shares trading hands.

Jumping the Gun? Congressional Dems Making Early Calls for Trump's Impeachment
He was impeached by the full House on December 19, although they rejected several articles suggested by the judiciary committee. Speaker, to call for the impeachment of the President of the United States of America for obstruction of justice", said Green.

Syrian opposition seeks extension of current Geneva talks
A former Syrian army colonel who joined the opposition said what the State Department revealed about Saydnaya "is not surprising". Ambassador Bashar Jaafari held a very brief meeting with de Mistura on Tuesday and left without speaking to the media.

Other news