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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
General »
 Interest income from an NRO account is fully taxable in India
 Income tax payers filing appeals before ITAT will have to provide information relating to the amount locked up in dispute
 GST, infrastructure status drive PE investments in warehousing
 Taxman should move towards limited scrutiny
  Government likely to withdraw tax notice on free banking services
 GST Council may bring natural gas, aviation turbine fuel under its purview at next meeting
 IT department cautions TDS deductors against quarterly filing default
 The notification said start-ups approved by an inter-ministerial panel are exempted from the tax which is levied on firms issuing shares to investors above their fair value, treating it as income from other sources
 Why you need to sort out your tax-residency status
 Government likely to withdraw tax notice on free banking services
 Senior Citizens Savings Scheme Rules, 2004

Goverment: New GST to be implemented in J-K next year
December, 02nd 2010

Jammu and Kashmir will implement Goods and Services Tax along with the other states in the country proposed during the coming year, the state government has said.

The state would also computerise its commercial taxes department within 15 days for the convenience of business community, the state finance minister Abdul Rahim Rather said on Tuesday evening.

He was speaking at a gathering of industrialists, trade and industry representatives, and senior officers of the Finance, Excise and Taxation Departments on the occasion of the release of 3rd edition of Book on "Value Added Tax (VAT) in Jammu and Kashmir".

The minister said the liberalisation of economy had necessitated periodic review of tax regimes.

He assured the industry that larger interests of all stakeholders would be safeguarded during the introduction of new tax reforms.

Abdul Rahim Rather said that government always looked forward to a cordial relationship with trade and industry bodies.

Elaborating on the need for the new GST regime, the Minister said though VAT system was effectively implemented in the state for which Jammu and Kashmir got appreciation at national level, there were some short-comings in it .

This, he said, had necessitated further improvements in the sphere of indirect tax reforms.

"New GST regime would be a further significant improvement and next logical step towards a comprehensive indirect tax reform", he said.

Rather said necessary constitutional amendments at national level were in the offing for the purpose.

He hoped that the new edition of VAT in Jammu and Kashmir would enormously help tax administrators, business community, tax practitioners and the consumers.

The finance minister said this would further improve the quality of tax dispensation and justice delivery.

It is felt that the roll out of Goods and Services Tax by 2011 is doubtful with the Centre being unable to secure a consensus among the states.

On computerisation of tax departments in the state, the minister said this will enable business community in e-filing of returns, e-payment and de-matting of statutory forms.

It would help minimise the interface of the dealers with the department which was causing unnecessary harassment to them, he said.

Computerization of records would solve maximum problems of the business community, he said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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