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: Central Excise rule to resale the machines to a new company :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: form 3cd :: due date for vat payment :: cpt :: VAT Audit :: TDS :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
« Service Tax »
 Service Tax On Hotels And Restaurants – Recent Delhi High Court Judgment
 GST Council discusses 4-tier tax rate, cess on demerit goods
 Why you shouldn’t miss these three simple tax saving options beyond Section 80C
 Determination of value for transactions between the Related parties under GST Laws.
 Higher collections can offset GST losses
 GST to subsume over a dozen Central, State taxes
 Incidence of indirect taxes won't go up under GST
 Advanced Budget date: Absence of a GST rate may present estimation challenges
  Tax queries answered by Dilip Lakhani, Senior Chartered Accountant
 FinMin warns tax officials of action against GST protest
 Model GST Law may redefine employer-employee relationship

Centre, States can levy taxes for one year after GST notification: Jaitley
October, 01st 2016

Laying to rest doubts on the government’s powers to levy indirect taxes after the notification of the Constitution Amendment Act for the goods and services tax regime, Finance Minister Arun Jaitley said that the new legislation empowers the government to continue levying excise duty, service tax and value added tax (VAT) till September 16, 2017.

“Until one year after the provisions of the Constitution (101st Amendment) Act, 2016 is brought into force, the Constitution empowers the Central Government to levy excise duty on manufacturing; and service tax on the supply of services,” he informed the Parliamentary Consultative Committee attached to the Ministry of Finance on Friday.

He further added that the Constitution Amendment Act similarly also empowers the State governments to levy sales tax or VAT on the sale of goods till that time for the same time period.
His comments come after there were questions over the legality of levying excise duty and services tax when provisions of the Constitution Amendment Act for GST had been notified on September 16.

At that time, after discussions with the Law Minister, Revenue Secretary Hasmukh Adhia had said there is “no legal infirmity” in the notifications.

Rollout as per schedule

Meanwhile, in his opening remarks at the meeting, the Finance Minister also expressed confidence that GST will be rolled out from April 1, 2017, adding that the government is following the road map for implementation of indirect tax levy as per the schedule.

Jaitley also assured the Committee that the GST Council is working in a cordial environment.

Members of the Committee also made suggestions and sought clarifications on GST.

“The members hoped that this law will bring relief to the common man by exempting certain essential items from GST and moderate the rate of taxation on other items which in turn will bring down the prices consumption items of the common man as well as cost of living at large,” said an official release.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

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