Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Budget Extravaganza »
Open DEMAT Account in 24 hrs
 All outstanding personal tax demand notices up to Rs 25,000 withdrawn till FY 2014-15 in Budget 2024
 Budget 2024: Why there is an urgent need to hike Section 80C deduction ceiling for income tax benefits
 Budget 2024: Long term capital gains tax and the holding period for different assets explained
 No increase likely in income tax rebate in interim budget: FinMin official
 Income tax expectations for Budget 2024: Focus on medical insurance and capital gains tax
 Whole world looking at India s budget with hope
 Pre-budget expectations for salaried individuals on tax relief Budget 2023
 Centre expected to introduce new income tax slabs in Budget 2023: Report
 Budget 2023: Pre-budget expectations for salaried individuals on tax relief
  Will non-extension of tax benefits for affordable housing impact sales Budget 2022
 Budget 2022 allows 2 more years to file ITR; Know the whopping cost of delay in filing

Pranab hints at GST delay
November, 11th 2009

The implementation of goods and services tax (GST) by April 2010 is likely to be delayed by a few months as it would involve discussions with different stakeholders and legislations including constitutional amendments.

This indication came from the Union Finance Minister Pranab Mukherjee who chaired the meeting of the Empowered Committee of State Finance Ministers here on Tuesday.

As far dates (deadline for implementing GST) are concerned we are working on it. The Union Budget 2007-08 announced that GST would be applicable by April 2010. As a first step today, the Empowered Committee of the State Finance Ministers has released the discussion paper.

There will be discussions and deliberations with the all stakeholders. We will also look into it, said Mukherjee, who along with Asim Dasgupta, chairman of the empowered panel, released the first discussion paper on GST.

We will legislate and bring constitutional amendment where it is required. To complete these processes (to arrive at a GST that would benefit both Centre & States) it would require time, Mukherjee said to a question whether the implementation is being pushed by a few months time.

Dasgupta said issues raised by each State would be resolved in a democratic manner.

I remain confident about the target to be achieved. When I say we are working at it, we are very serious.  Every State has to be accommodated in a democratic manner. That is my responsibility, Dasgupta told reporters.

His remarks assume importance as states like Gujarat, Madhya Pradesh and Tamil Nadu are not in favour of introducing the GST from April 1, 2010.

As per the discussion paper GST would not cover alcohol products though tobacco products would be charged.

Significantly Crude oil, petrol and diesel products, the Panel decided to keep it out of the GSTs ambit, Dasgupta said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting