Centre, State Should Cut Taxes On Fuel, Says Niti Aayog Boss

Niti Aayog vice chairperson Rajiv Kumar on Monday called for a cut in taxes on fuel, both by the centre and the state. Mr Kumar also told NDTV that he was strongly in favour of fuel being brought under the Goods and Services Tax or GST.

It is a misconception that bringing petroleum products under the Goods and Services Tax, or GST, will lead to lower fuel prices, Bihar's Deputy Chief Minister Sushil Kumar Modi said on Saturday.

With petrol and diesel rates skyrocketing on a daily basis, Road Transport and Highways Minister Nitin Gadkari on Friday advocated bringing fuel under the GST to curb the price hike.

Prime Minister Narendra Modi completes four years in office on May 26. He's used the time to give India its biggest tax reform, overhauled a century-old bankruptcy law, revived stalled projects and got the World Bank to say Asia's No. 3 economy is a much better place to do business.

A father-son duo has been arrested by GST officers for tax evasion of Rs 28 crore, marking the first arrest in the national capital under the new indirect tax regime.

The Ministry Of Road Transport has brought about a whole range of proposals to increase the adoption of electric vehicles in India. These include the proposal of scrapping permits to run commercial electric vehicles, allowing youth between the ages of 16-18 to ride electric scooters without a license and preferential parking for electric cars in certain areas. Another...

The Indian economy is gradually coming out of the twin shock of demonetisation and GST which temporarily derailed growth, rating agency India Ratings said.

The International Monetary Fund (IMF) reaffirmed on Wednesday that India will be the fastest growing major economy in 2018, with a growth rate of 7.4 per cent that rises to 7.8 per cent in 2019 with medium-term prospects remaining positive.

The expenditure incurred by the government in contesting cases in the Supreme Court has gone up from nearly Rs 11 crore in 2011-12 to Rs 42.40 crore in 2017-18, Law Ministry data shows.

Finance Minister Arun Jaitley today attended a meeting of the Union Cabinet, the first since he was diagnosed with a kidney ailment that has kept him away from office for over three weeks now.

Prime Minister Narendra Modi has helped the cause of the opposition with steps like demonetisation and very shoddy implementation of the GST regime, National Conference (NC) working president Omar Abdullah said.

The Delhi High Court has sought the response of the Centre, the RBI and the GST Council on a plea challenging a circular which prohibits banks and financial institutions from providing any service in relation to virtual currencies such as 'crypto-currencies'.

India, which has recovered from disruptions caused by the notes ban and the rollout of the GST, must fully implement the new nationwide indirect tax to avoid tax revenue under performance resulting in cuts to capital expenditures, the IMF said today.

India is expected to grow at 7.4 per cent in 2018 and 7.8 per cent in 2019, leaving its nearest rival China behind respectively at 6.6 and 6.4 per cent in the two years, the IMF said today.