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 :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: TDS :: articles on VAT and GST in India :: form 3cd :: empanelment :: due date for vat payment :: ACCOUNTING STANDARDS :: cpt :: list of goods taxed at 4% :: VAT Audit :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
News Headlines »
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government
 Deadline to pay property tax in old currency extended
 Cabinet clears amendments to Income Tax Act
 Have you got interest on your income tax refund?

GST: Agreement still elusive, says PwC
November, 03rd 2009

Amid fears that GST implementation will miss the deadline, PricewaterhouseCoopers has said the Centre and states are yet to reach an agreement on major issues relating to the new tax regime.

"Agreement is yet to be reached on major issues such as the treatment of inter-state supplies of goods and services, imposition of GST on imports," said a PwC report.

The goods and services tax is scheduled to be introduced from April 1, 2010. However, finance minister Pranab Mukherjee [ Images ] had recently said while the Centre and the states were serious over introducing the system as per schedule, he would not be surprised if there was slippage of a few months.

At present, central sales tax of two per cent is imposed on inter-state movement of goods, but the proposed GST is expected to subsume CST. As such, there has to be an agreement as to how inter-state movement of goods will be taxed under the new regime.

While GST is not expected to replace customs duty, sources said it may subsume other taxes such as countervailing duty on imported goods. But, it is yet to be decided as to how these existing taxes would be subsumed.

Besides, PWC said an agreement was yet to be arrived at regarding exemptions under Centre and State GSTs, and standardisation of procedures for implementation of new tax system.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

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