To be honest, at present, it is highly impossible to share any revenue losses and it is not correct on our part to share these numbers without any ground study. Now, you have to consider a couple of factors before we come out with the figures.
Category: Infrastructure Finance
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GST is the tax system of the 21st century
The most important thing is to view it as a historic opportunity. It is the first major economy-related reform of the Constitution that has happened. It is also an opportunity to create a 21st century tax system.
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GST implementation will ensure seamless credit availability
The most crucial tax reform since Independence, GST aims to iron out a multilayered indirect tax system and usher in a uniform tax structure. This development augurs well for the infrastructure sector.
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Still a work in progress
The GST regime will facilitate ease of doing business, but the government has to ensure that there is no adversarial impact on the infrastructure sector during the rollout, says PRATIK JAIN.
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Most complex tax regime by far
The macroeconomic aspects of GST haven´t been taken into account. If the government says that it will collect more revenue, then that means that prices will have to rise because it´s an indirect tax. If prices rise, then industrial output would tend to stagnate or decline.
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Project costs may increase owing to GST credit restrictions in many sectors
The Model GST Law specifically treats a ´works contract´ (including any transfer of property in goods in the execution of such contract) as a ´service´. However, determining the nature of a particular agreement, or a set of agreements, for a project (i.e., whether it qualifies as a works contract or not) would still be critical from the perspective of the place of supply, the taxable value, the applicable rate of tax and the compliances to be undertaken given the peculiar and varied nature of arrangements in the infrastructure sector, involving multiple scopes of work and multiple participants (consortium) for either a full project or for parts of a single project.
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Growth Stimulus Treatment (GST)
That our country´s GDP growth rate is going to get a bump-up if the Goods and Services Tax was to be implemented, is a consensus among many experts, as well as the industry bodies, although they may differ regarding the extent of push GST is likely to give our economy, with the quantum suggested varying from 1-3 per cent of incremental increase in growth
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FM announces administrative mechanism for GST
For annual turnover above Rs.1.5 crore, the taxpayers will be cross-examined either by the Central or state authorities on the basis of risk assessment.
The Centre will continue to assess the existing service tax assessees, till state officers are trained for the same.
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Indiabulls raises Rs.1,330 crore via masala bonds
Indiabulls Housing Finance Ltd (IBHFL) has said that it has raised Rs.1,330 crore by issuing its first masala bonds to overseas investors. The three-year tenure rupee-denominated bonds were listed on the Singapore Exchange (SGX) and attracted close to 70 per cent participation from investors in Asia, a company statement said.
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More infra funds on the anvil
The government plans three more sector-specific sub-funds, including for development of airports and ports, under the Rs.40,000 crore National Investment and Infrastructure Fund (NIIF), reports the Business Standard.