GAAR, it said, will come into force from April 1 and can be invoked only through a two-stage process involving a nod at the level of principal commissioner of income tax and a panel headed by a high court judge.
Power Minister Piyush Goyal sees no possibility of increase in power tariff across the country post GST, saying industry associations have not sought its deferment.
Job creation in India will be a key agenda when Prime Minister Narendra Modi meets top American CEOs of global giants like Walmart, Apple and Caterpillar this Sunday during his visit to the US.
Minutes of the RBI meeting in June reveal more flexibility among MPC members and the central bank might deliver a 25 bps rate cut in its August review, said analysts.
India`s government is facing mounting pressure to raise import duties on edible oils after farmers staged mass protests in key farm states amid a slump in oilseed prices to below government support levels.
More than 300,000 new workers can be employed in wind and solar jobs and more than one million total employment opportunities can be created in achieving India`s ambitious clean energy goals to install 160 GW of renewable power by 2022, a study said on Wednesday.
RBI Governor Urjit Patel had argued for avoiding premature policy action citing "high uncertainty" on inflation outlook while voting for status quo on interest rates at the monetary policy review earlier this month.
This is the second window the government has provided to banks, post offices and cooperative banks for depositing the junked notes with RBI. The earlier window was open till December 31, a day after the 50-day period of demonetisation of high value currency.
In order to ensure preparedness for the Goods and Services Tax (GST) roll-out from July 1, the Ministry of Electronics & Information Technology has launched a dedicated webpage for facilitating taxpayers with regard to addressing issues related to IT services and electronic goods.
All states and Union Territories, barring Jammu and Kashmir, have passed their State GST Act, paving the way for rollout of the Goods and Services Tax from the mid-night of June 30-July 1.
India`s cooperative banks have also been allowed to exchange old currency notes with the RBI, if they had collected these notes by November 14.
The modified trains will also have improved coach interiors, better furnishing and new comfortable seats.
Prime Minister Narendra Modi on Tuesday termed the roll-out of the Goods and Services Tax (GST) from July 1 as "historic" and said that the world will witness how political parties of various ideological hues came together to usher in this major reform.
Days ahead of the rollout of Goods and Services Tax, the government on Tuesday notified sections in the GST Act dealing with mandatory registration of current indirect tax payers in the new regime.
All central government departments were on Tuesday asked not to share personal details, including Aadhaar number, of RTI applicants.
The government has approved Rs 80 per quintal hike in paddy MSP, while support price of pulses has been raised by up to Rs 400 per quintal to encourage farmers increase area sown under Kharif crops this season.
The Reserve Bank is likely to keep key policy rates "unaltered" in the near term as prices of goods and services are expected to be volatile post GST and favourable inflation base effect wanes out, says a report.
Finance Minister Arun Jaitley on Tuesday said GST rollout will not be impacted by any delay in security clearance to GST Network, the IT backbone provider for the new indirect tax system.
India urgently needs to regain the level of growth it witnessed since 2003 and a lot needs to be done including an urgent resolution of bad loans, which seems to have begun. But, avoiding an unnecessary hawkish stance by the RBI would supplement government efforts in reviving investor sentiments.
Demonetisation of old Rs 500 and 1,000 notes had a "material impact on spending" as reflected in significant slowing of GDP growth in January-March, Fitch Ratings said today, warning that the ongoing steep decline in investment could spell risks to growth potential.