Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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
 
 
 
 
Popular Search: ACCOUNTING STANDARDS :: cpt :: TDS :: ACCOUNTING STANDARD :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: due date for vat payment :: list of goods taxed at 4% :: VAT RATES :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit
 
 
Service Tax »
 GST base looks set to be at least 25% wider than earlier tax regime
 Businesses struggle with multiple tax rates, returns
 Common use items exempt from e-way bill provision under GST
 Goods And Services Tax Sends Taxes Racing
 How GST lesson can unleash untapped potential of education sector in India
 Services sector PMI falls most in 4 years on GST
 Missing column in GSTR 3B form leaves input claims a shaky edifice
  Communication to the Central Excise/Service Tax Taxpayers on migration to GST
 GST not easy to implement but tax base expansion will benefit all
 Goods and Services Tax was not an easy reform to implement
 GST to expand tax base, bring down weighted average tax rate:

Narendra Modi mum on Ficci appeal for Goods and Service Tax
December, 20th 2011

Gujarat chief minister Narendra Modi did not oblige the FICCI national executive held for the first time in Gujarat and avoided comment on the Goods and Service Tax. The state has been opposing the new tax roll-out citing losses in revenue collection. The Centre is keen on GST but opposition from states like Gujarat, Tamil Nadu and Uttar Pradesh is a roadblock to the uniform tax system adopted by 165 countries.

FICCI president Harsh Mariwala sought Modi's co-operation on GST and liberalising the retail sector in the country. However, Modi did not respond to the appeal and restricted his speech to developmental initiatives taken by his state.

"The implementation of GST is crucial for the country. Various studies and have found that fears expressed against rolling out of GST are unfounded," Mariwala said during his speech. Regarding liberalising the retail sector in the country he said, "The move will help the economy, so we suggest the foreign direct investment in single brand retail to be raised to 100% and in multi-brand retail to be 49% if not 51%."

A FICCI delegation led by Mariwala was later supposed to meet the state energy minister Saurabh Patel, but the meeting was cancelled, FICCI officials said.

The state government has been in the forefront of opposing GST, saying the state will lose its autonomy in financial matters. According to state government's estimates, Gujarat will lose Rs 3,000-crore revenue annually, while the cumulative loss to all the states is estimated at Rs 31,000 crore. It had stated that the GST regime will make luxury goods cheaper but will raise the prices of items of day-to-day consumption. Saurabh Patel had earlier said information technology infrastructure necessary for implementation is also not ready in many states, which will affect timely execution of new tax regime.

Under GST, the tax burden is shared by the service sector and the manufacturing sector. At present, manufacturing goods are subjected to excise while services are subjected to service tax. However, the current tax regime is heavily dependent on the excise revenues. GST is intended to replace both the taxes, simplify the tax regime and bring down the peak rate of taxation.

Currently, different states have different rates for state excise duty, discouraging inter-state movement of the goods. GST

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

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