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: VAT RATES :: TDS :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: VAT Audit :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: cpt :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: empanelment
 
 
« General »
 Tax Department To Launch 2nd Phase Of Bank Accounts' Scrutiny Next Month
 How to claim tax benefit on tuition fees under Section 80C
 Online Income Tax grievance redressal facility launched at 60 offices
 Demonetisation impact on government tax revenue marginal; direct tax personal income grew at above budget estimates
 ICAI seeks more accountability, transparency in defence sector
 Will Budget help double farmers’ income?
 Verify online deposits made post demonetisation, income tax department asks taxpayers
 Union Budget 2017: Best budget is do not change anything, do no harm, implement well
 Why salaried class deserves standard deduction
 3 new taxes that Modi government could introduce, but won't
 Tax gains may showcase demonetisation windfall

India may miss GST implementation target
November, 20th 2009

With issues like the exclusion of petroleum products from the purview of Goods and Services Tax (GST) yet to be resolved, India may miss the GST implementation deadline of April 1, 2010.

"There are various issues remaining unsolved. Currently, we are taking various industries' views on them to resolve them at the earliest," a senior official of the Central Board of Excise and Customs told PTI here today.

"A re-look is needed in certain areas such as the exclusion of petroleum products from GST as well as other open areas like purchase tax. The rate structure is also needed to be finalised," the official added.

Once implemented, GST will replace most indirect taxes at central and state levels, he said.

Octroi, a levy that exists in Maharashtra, would also be kept outside the GST ambit, he said, adding that some states still were not fully on-board. This is also a stumbling block in the implementation of the GST.

Logistics players, however, are on a roll and said that the GST introduction is likely to revolutionise the sector.

"The introduction of GST will make the supply-chain management business simpler. Moreover, money spent on other taxes can be used to improve the quality of services.

It will be another step in opening up the Indian market worldwide," AFL Logistics Chief Executive Officer Juzar Mustan said.

Logistics costs in India is equal to 13 per cent of the GDP, which is significantly higher than the developed nations, where it equates to only around 10 per cent.

Even the slightest reduction would result in considerably huge savings for the country, a recent industry study said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

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