Thu, May 25, 2017 | updated 06:57 AM IST

Assure that GST will be applicable from April 1 across India, says Arjun Ram Meghwal

Updated: Sep 22, 2016 15:51 IST      
Assure that GST will be applicable from April 1 across India, says Arjun Ram Meghwal

New Delhi [India], Sep 22 (ANI): The union government is abiding by the target date for implementing the goods and services tax (GST) to ensure that it is applicable from April 1, 2017 across India, Minister of State for Finance, Arjun Ram Meghwal said at an ASSOCHAM event held in New Delhi today.

"I can assure you that April 1st, 2017 is the target date for implementing GST in India and we are abiding that particular target and I can assure that April 1st 2017, GST will be applicable in the country," said Meghwal while inaugurating an 'ASSOCHAM Global Investors' India Forum.'

He said that all the issues relating to the states - whether pertaining to the standard rate, area-based exemption, product-based exemption, slab in the GST rate all will be decided in the GST Council after detailed discussion with the states.

"We will deliberate the issues and definitely decide in the interest of the nation," said Meghwal.

The Union Minister added that the GST is a major initiative that can take India's GDP growth to double digit level i.e. up to 10 per cent from current level of over seven percent.

Highlighting that the Government is slowly moving towards the goal of - one nation, one tax, he said, "We will consider all aspects and to promote ease of doing business and ensure success of Make in India program, we can also consider slab related issues."

He also said that government was working on the process to curtail black money generation. "We are in the planning stage to curtail the black money in the generation process as we do not want black money to be generated."

Conceding that India is grappling with challenge of low private investment, Meghwal said, "I think, this is the biggest challenge before the government."

On the success of Skill India initiative, he said that the initiative will not succeed if it is not able to go as per the industry's requirement. "We will take the input from you, though we are running Skill India program along with states, but we will definitely take the initiative and input from the industry."

The Minister also emphasized that unless agriculture, housing and rural sectors are improved, India's GDP will not grow as per government's desire.

"From 1952 we have been fixing the target that we will grow agriculture sector at four percent, now this present government has taken so many initiatives like Pradhan Mantri Fasal Bima Yojana, simplification of KCC (Kisan Credit Card), Soil Health Card, increasing irrigation facilities, so I hope that the target of growth for agriculture growth will be achieved," said Meghwal. (ANI)

Aviva Life Insurance Bags 'Product of the Year 2017'

Updated: May 24, 2017 20:42 IST     

New Delhi [India], May 24 (ANI-Businesswire India): Aviva Heart Care has been voted as Product of the Year 2017, for product innovation in the insurance category.

Full Story >>

Union Cabinet scraps FIPB

Updated: May 24, 2017 19:07 IST     

New Delhi [India], May 24(ANI): The Union Cabinet on Monday abolished the 25 year old Foreign Investment Promotion Board (FIPB) that oversees Foreign Direct Investment proposals requiring the government's approval.

Full Story >>

Studying bottom of pyramid banking habits

Updated: May 24, 2017 18:40 IST     

New Delhi [India], May 24 (ANI-Businesswire India): T he Institute of Rural Management Anand (IRMA), along with Grameen Foundation India, recently concluded a study entitled "Scaling Digital Financial Services: Research and Innovation". Aimed at gauging savings and banking habits of the Bottom of the Pyramid (BoP) populace - both rural and urban - the study threw up some interesting revelations.

Full Story >>

New Delhi [India], May 24 (ANI): Income Tax Directorates of Investigation have identified more than 400 benami transactions up to 23 May, 2017.

Full Story >>

BI Worldwide India wins big at the 31st MAA worldwide globes

Updated: May 24, 2017 16:56 IST     

New Delhi [India], May 24 (ANI-Businesswire India): BI WORLDWIDE India, a global leader in delivering technology-enabled engagement and loyalty solutions, has won the Bronze award in the 'Best Business to Business or Trade Marketing Campaign' at the 2016 MAA Worldwide Globes.

Full Story >>

Uttarakhand/Noida, Uttar Pradesh, [India], May 24 (ANI- Business WireIndia): CETPA Infotech, one of the most preferred technical and industrial training companies in the country, offering multi-location training solutions, expert training that is tailored to the requirements of students, corporate and colleges, and virtual training technologies, has announced its updated list of training programmes for this summer.

Full Story >>

New Delhi [India], May 23 (ANI): Largest fertiliser cooperative IFFCO on Tuesday announced its collaboration with Bank of Baroda to launch its co-branded debit card for farmers at a card distribution ceremony organized at their corporate office in New Delhi.

Full Story >>

New Delhi [India], May 23 (ANI): Indian markets are growing at a rapid pace, involving new stakeholders whom until a few years ago did not have any visible and significant presence as far as supply chain space was concerned.

Full Story >>

New Delhi [India], May 23 (ANI-NewsVoir): Adding a new strength to Khadi India's fashion power-house, Aditya Birla Fashion and Retail Ltd. and Khadi and Village Industries Commission, Ministry of MSME, Government of India today announced a strategic collaboration to strengthen the synergies between the two iconic Indian brands.

Full Story >>

BYJU'S unveils personalized learning experience for students

Updated: May 23, 2017 18:05 IST     

New Delhi [India], May 23 (ANI): Education company BYJU'S has launched a major update to its learning app focused at revolutionizing personalized learning experiences for students across grades.

Full Story >>

Maharashtra [India], May 23 (ANI-BusinessWireIndia): Rajiv Gandhi Global Excellence Award Foundation presented 'Rajiv Gandhi Global Excellence Award' in the category - Philanthropy and Entrepreneur to Arun Muchhala, Chairman of ArunMuchhala Group on Sunday 21st May 2017 at The Ashoka Hotel, New Delhi.

Full Story >>

New Delhi [India], May 23 (ANI-NewsVoir): Mahindra First Choice Wheels Ltd., India's number one multi-brand used car products and services company extended its leadership position in the used car industry with a strong performance in F17 in all areas of the business.

Full Story >>

New Delhi [India], May 23 (ANI-NewsVoir): Indian miniature artist Suvigya Sharma makes a new mark in history - does a hyper real portrait of Hon. PM Narendra Modi and present it to him at the Prime Minister's Office in Delhi.

Full Story >>

Avanse Financial Services appoints Amit Gainda as CEO

Updated: May 23, 2017 15:47 IST     

New Delhi [India], May 23 (ANI): New-age education finance Non Banking Financial company Avanse Financial Services on Tuesday announced the appointment of Amit Gainda as its Chief Executive Officer.

Full Story >>

Entertainment Services under GST to have lower tax incidence

Updated: May 23, 2017 15:29 IST     

New Delhi [India], May 23 (ANI): Taxes on entertainments and amusements (covered by the erstwhile entry 62 of State List of the Constitution) have been subsumed under Goods and Services Tax (GST) except to the extent of taxes on entertainments and amusements levied by a Panchayat or a Municipality.

Full Story >>

New Delhi [India], May 23 (ANI): Taxation on commodities such as packaged cement, medicaments, smart phones, and medical devices shall come down under the Goods and Services (GST) Tax as the government has reduced its rates on these items.

Full Story >>

Tax incidence on entertainment services under GST lowered

Updated: May 23, 2017 12:57 IST     

New Delhi [India], May 23 (ANI): Taxes on entertainments and amusements were subsidised under the Goods and Services Tax (GST), except to the extent of taxes on entertainments and amusements levied by a Panchayat or a Municipality.

Full Story >>

Acko General Insurance raises USD 30 million

Updated: May 23, 2017 12:00 IST     

New Delhi [India], May 23 (ANI): Acko General Insurance on Tuesday received it's in principle regulatory clearance to launch a General Insurance business in India. In a regulated business, Acko raised USD 30 million.

Full Story >>

Gandhinagar (Gujarat), May 23 (ANI): With the changing global landscape for agriculture and food security, Union Finance Minister Arun Jaitley said that India and Africa can emerge as key partners in these areas.

Full Story >>

New Delhi [India], May 23 (ANI): Digital payment aggregator Paytm on Tuesday unveiled the Paytm Payments Bank, a first-of-its-kind bank that will offer cashbacks on deposits. Customers will also be entitled to zero charges on all online transactions and no minimum balance requirement.

Full Story >>