The Confederation of Indian Industry (CII) organised its Delhi State Annual Session and a business conference. Manish Sisodia, Deputy Chief Minister, Government of NCT of Delhi, inaugurated the business conference. He said, “The upcoming GST will be a tsunami of tax reforms and the small medium sector of Delhi might struggle to understand its fundamentals.”
Tag: GST
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OECD signs MoU with CII for greater collaborative work
“India, with a 7 per cent growth rate, is flowing against the tide despite the difficult economic environment prevailing across the world,” said Angel Gurria, Secretary-General of the Organisation for Economic Cooperation and Development (OECD).
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We tend to thrive in volatile environments
We have been in business for nine years; our 10th year anniversary is in July. We always found that economic environments that are increasing or contracting are best for us. I might say it in another way. We tend to thrive in volatile environments where organizations are required to be ready for change.
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What GST holds
All states will implement GST by July 2017. The Constitution Amendment Bill for Goods and Services Tax has been approved by the President of India post its approval in Parliament (Rajya Sabha on 3 August 2016 and Lok Sabha on 8 August 2016) and ratification by more than 50 per cent of state legislatures.
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Areef Patel, Vice-Chairman, Patel Integrated Logistics Ltd
The logistics sector generates mass employment and is a key revenue earner for the government. In order to improve the competencies of the logistics sector, the Goods and Services Tax (GST) should be implemented without further delay, which could result in potential savings of around $200 billion and lead to streamlining of the taxation structure and reduce inventory maintenance costs.
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Ashwin Vasista, Associate, Singhania and Co
The introduction of the Goods and Services Tax (GST) is in itself a path-breaking fiscal reform. Corporate tax and other indirect taxes may be revamped keeping in view GST requirement.
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Ayush Lohia, CEO, Lohia Auto Industries
At present, demonetisation has created an unfavourable environment for the auto industry on the whole. The auto industry is pinning hope on the upcoming Union Budget 2017 as it will uplift consumer sentiment and infuse a positive environment for the auto industry, including electric vehicles.
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Jayashree Kurup, Head of Content and Advisory, Magicbricks.com
Affordable housing being given infrastructure status is a welcome move and will help in the ´Housing for all´ by 2022 Mission - it is a big and positive move for developers, banks and housing finance companies.
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Pradeep Misra, Chairman and Managing Director, Rudrabhishek Enterprises Pvt Ltd
We have a lot of positive expectations from the upcoming Budget 2016-17. My thoughts are focussed on three major points - transparency on GST, encouraging the Real Estate Regulation Act (RERA), and REIT.
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Sandeep Upadhyay, Managing Director and CEO, Centrum Infrastructure Advisory Limited
Budget should focus on higher funds allocation to infrastructure and improving domestic macroeconomic fundamentals
The priority of the Budget should be to improve the macroeconomic fundamentals of the country and make efforts to meet the fiscal deficit targets of last year. The onus should be on productive utilisation of funds.