The Union Cabinet has also approved setting up of the 15th Finance Commission that
will prescribe the modus operandi for devolution of taxes between the Centre and
States.
The Goods and Services Tax (GST) council on Monday set GST roll out for July 1, instead of April 1 deadline which was earlier planned, due to dispute between center and state over taxation powers, said Finance Miniter Arun Jaitley.
Adani Group Chairman Gautam Adani has announced an investment plan of Rs 49,000
crore in Gujarat, for expansion of port capacity and foraying into water and cement
businesses over the next 5 years.
The GST Council, headed by the Finance Minister Arun Jaitley, will meet today 3 January,
with the representatives of six crucial sectors, including banking, IT, telecom and insurance to assess the implementation bottlenecks under the new GST regime.