Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: TDS :: empanelment :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: due date for vat payment :: ACCOUNTING STANDARDS :: form 3cd :: VAT Audit :: VAT RATES :: Central Excise rule to resale the machines to a new company
 
 
« Service Tax »
 GST Network to begin accepting fresh registrations from June 25
 Indian GST is significantly unique, but is it better?
 GST example of national integration
 6 reasons you need not fear the GST regime
 Tax return filing extension on GST may not be enough
 GST: ‘Tech readiness, tax administration key challenges’
 GST return filing rules relaxed for Jul-Aug, July 1 rollout
 GST Council gives return filing breather to India Inc for 2 months
 All eyes on 18 June as GST Council meets to iron out niggling issues
 GST Council's June18 meet to finalise e-way bill, anti-profiteering rules
 Valuation of Tax liabilities Under GST Regime

Chidambaram to meet GST panel on Nov 8
October, 15th 2012

Finance Minister P. Chidambaram will meet members of the Empowered Committee (EC) of state finance ministers on November 8 to sort out the issues concerning implementation of the Goods and Services Tax (GST).

Finance Minister P Chidambaram will meet EC members on November 8, a senior finance ministry official said.

Before meeting the committee members, Mr. Chidambaram will hold discussion with the chairman of committee, Sushil Modi on October 22.

GST, which will empower the Centre and states to simultaneously tax supply of goods and services, was to be introduced from April 2010 and has missed several deadlines.

The Bill is currently being vetted by the Parliamentary Standing Committee on Finance. The committee had raised certain queries to which the revenue department has already responded. The report of the committee is awaited.

Earlier, while talking to a conference of economic editors, Chidambaram had said he was confident that after meeting Mr. Modi and the entire EC, the Centre will be able to resolve all issues concerning GST.

Issues related to GST network (GSTN) and matter of further Central Sales Tax (CST) are cause of delay in the implementation of the GST.

Moreover, states are also raising issues relating to dispute settlement mechanism and exclusion of certain products from the GST system.

The CST is collected by the Centre and distributed among states. As a precursor to GST, Centre and States in April, 2007, had agreed to phase out CST over a period of three years and in line CST rate was reduced to 3 per cent and then to 2 per cent. The Centre had already compensated states for losses up to 201011.

As the Centre refused to go on compensating the states for delay in implementation of GST, states had argued that when it was decided to phase out CST, it was presumed GST would be implemented from April, 2010.

Recently, Mr. Modi had sought Prime Minister Manmohan Singhs intervention to resolve the compensation issue.

States have also suggested that they should be allowed to restore the CST rate to four per cent in case the central government was not able to pay any further compensation.

Earlier in August, Mr. Chidambaram had hoped that the Constitutional Amendment Bill to implement the Goods and Services Tax regime (GST) will be passed by March 2013.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

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