GST Council wants the tax incidence and price of cigarettes to stay at current levels, hence the jump in ITC shares despite the news of cess on demerit goods
2 min read20 Mar 2017Finance ministry's revenue department wants to calculate GST impact on inflation to minimise price rise once the indirect tax is rolled out
1 min read17 Mar 2017GST council has cleared the state and union territory GST bills and capped cess on luxury cars (15%), aerated drinks (15%) and cigarettes (290%)
3 min read17 Mar 2017The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared