Ashishkumar Chauhan, CEO of Bombay Stock Exchange says that once India's federal government implements the Goods and Services Tax (GST) regimen, smaller firms will become tax-compliant and will float IPOs to sell their shares to the public. Chauhan estimates that around 1,000 companies will list on his bourse over the...
Mercedes-Benz Reduces Prices in India
German luxury car maker Mercedes-Benz is reducing the price of its cars for the whole month of June in India. The price reduction will range from $2,170 on the CLA sedan to $10,850 on its Maybach S 500. The company seeks to pass on the benefits of the new tax...
Warehousing Sector Surges in India
In anticipation of the national Goods and Services Tax roll-out in July, warehousing facilities will increase by 18 percent to 132.5 million sq ft, and this sector is likely to see investments of about $700 million, according to industry experts Delhi-NCR had the maximum warehousing stock in 2016 at 29.3...
Walmart India Trains Supplier Partners in GST Compliance
Walmart India has started a series of workshops for its supplier partners to help them evaluate their Goods and Services Tax compliance levels and prepare for the transition to the new tax structure to be rolled out from July 1. Tax rates have been finalized for 1,211 items with a...
India Finalizes Rates for New GST Regimen
At a two-day meeting of the Goods and Services Tax (GST) Council in Srinagar, the capital of India's northernmost state of Jammu and Kashmir, India finalized tax rates that will apply to different goods and services from July 1. A panel comprising federal and state finance ministers fixed the rates...
IMF: GST Will Push India's GDP Growth Rate up over 8%
In an exclusive interview with the Press Trust of India, Tao Zhang, Deputy Managing Director of the International Monetary Fund said: "The government has made significant progress on important economic reforms that will support strong and sustainable growth going forward." "We expect that the Goods and Services Tax (GST), which is...