Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: cpt :: ACCOUNTING STANDARDS :: form 3cd :: list of goods taxed at 4% :: empanelment :: due date for vat payment :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India
 
 
Service Tax »
 GST base looks set to be at least 25% wider than earlier tax regime
 Businesses struggle with multiple tax rates, returns
 Common use items exempt from e-way bill provision under GST
 Goods And Services Tax Sends Taxes Racing
 How GST lesson can unleash untapped potential of education sector in India
 Services sector PMI falls most in 4 years on GST
 Missing column in GSTR 3B form leaves input claims a shaky edifice
  Communication to the Central Excise/Service Tax Taxpayers on migration to GST
 GST not easy to implement but tax base expansion will benefit all
 Goods and Services Tax was not an easy reform to implement
 GST to expand tax base, bring down weighted average tax rate:

Main premise of the states opposing the GST Bill
October, 05th 2010

Despite persistent opposition to Goods and Service Tax (GST) Bill, the Union government has taken no initiative so far to make amendments as suggested by the state government. The main premise of the states opposing the GST Bill is that it will usurp most of their rights and render them as mere beggars before the Central Government.

Recently, Madhya Pradesh Chief Minister has reiterated the state government's stand, saying that the state cannot go before Centre with the begging bowl every time it will need funds. He made it clear that if the Centre didn't bring about changes in the GST as per the state government's suggestions, it will not pass the GST Bill in the state assembly here.

In fact, Madhya Pradesh cannot afford to accept the way GST has been presented, as the same will cripple the state's own revenue generation system. As a matter of fact, if the basic form of GST is not changed in tune with the aspirations of the MP, the GST bill will not be passed in the state assembly.

It may be mentioned that the way the GST Bill has been structured; it will put an extra burden on the poorer sections as the rate of taxes will lead to hike in the price of the essential commodities.

Another concern of the state governments is that GST will also limit the taxation powers of the state, which will ultimately affect its financial autonomy as the state will become dependent on the Centre for e finances.

Furthermore, the GST will also affect the federal structure of the country, leaving states with very few powers. Significantly even the Congress-led state governments have expressed their reservations on the GST.

Under the amendments to GST Bill proposed by Madhya Pradesh, it was suggested that Centre should tax services, while the states be allowed to tax all goods up to the retail stage the. MP government had reasoned that this model of GST would obviate the need for constitutional amendments.

However Centre has rejected alternative GST proposed by MP, Gujarat and the chairman of the empowered committee of state finance ministers. Under the GST, a single tax will have two equal components, one levied by the Centre and the other by states. The rolling out of GST requires some constitutional amendments, which need to be passed by both the houses of Parliament and at least 15 state assemblies.

Despite changes in the GST draft, many states have been opposing GST. Even after the revised draft of GST that incorporated withdrawal of the veto power and a more equitable sharing of powers, still the opposition by many states especially MP persisted in the meeting of the empowered committee of state finance ministers on September 20. Sources said that the GST Bill would be tabled in the winter session of Parliament if consensus emerges among the states by October 27 meeting of the empowered committee in Goa.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions