State governments and the lottery industry had represented to the GST Council on the issue earlier and it had set up a group of ministers to examine this.
Move to boost tourism; consensus unlikely on GST cut on auto.
GST Council could lower levies for some sectors at its September 20 meeting.
A borrower will be able to avail of the guarantee from the proposed fund for a small fee.
FinMin has begun crunching the numbers to estimate the revenue it would lose in the event of rate reductions.
The plan will initially be limited to assessments in which tax officials have maximum one or two queries and then expanded.
Amid the clamour for slashing GST rates, rail manufacturers are seeking the opposite—an increase.
The DRI has asked the customs wing to look carefully at the origin certificates issued for such consignments by Bangladesh trade bodies.
There was nothing flashy, forceful or confrontational about the way Jaitley managed the economy that became the fastest growing in the world.
Startups exceeding the turnover threshold of Rs 25 crore stand to lose out on the tax holiday.
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