The International Monetary Fund said that the adoption of the Goods and Services Tax could help raise India's medium-term GDP growth to over eight percent and create a single national market for enhancing the efficiency of the movement of goods and services. It also suggested that the GST "should have...
India's Growth Rate Will Improve to 7.4 percent in Fiscal 2018
The Asian Development Bank said that India's growth rate will improve to 7.4 percent during 2017-18 and go up further to 7.6 per cent in the next fiscal year In the Asian Development Outlook, the bank's flagship economic publication, reasons given for this forecast are: "The impact of the demonetization...
India's GST Implementation Enters Homestretch
On Wednesday March 30, the Goods and Services Tax (GST) cleared its last legislative hurdle with the Lok Sabha (lower house of India's parliament) signing off on all the four bills crucial for the implementation of this seminal tax reform. The central GST bill, the integrated GST bill, the union...
India's GST Council Caps Tax at Source at 1% for E-Commerce
The Goods and Services Tax (GST) Council has decided "to provide for up to 1 percent Tax Collected at Source" for e-commerce companies, a senior government official explained. The supplier of goods can set off the tax against its final GST liability, and so theoretically, the levy can be even...
In India, Investments by Logistics Companies Surge
Logistics companies -- both from India and globally -- are actively making investment plans for the coming fiscal year. According to Kuwait-based Agility's Emerging Markets Logistics Index published in February, India, for the second consecutive year, was picked as the country with the most potential to grow as a logistics...
India Enters Last Mile of GST Reform
On November 3 and 4th, 2016, the federal government and that of the various Indian states discussed the rate structure for the Goods and Services Act, popularly known as GST, and signed off on a multi-tiered tax system. Addressing a press conference, India's finance minister Arun Jaitley said that the...