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: form 3cd :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment
 
 
News Headlines »
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits
 Want to save tax? Here are 6 best investment options for you

FM & committee on VAT to lay a road-map for GST
January, 18th 2007

Finance minister P Chidambaram and the Empowered Committee of state finance ministers on VAT are expected to lay a road-map for the Goods and Services tax (GST), scheduled to be implemented by 2009-10.

Adviser to Finance Minister Parthasarathi Shome today hinted that the Finance Minister and the VAT panel, which are currently working on phasing out Central Sales Tax (CST,) will also consider various challenges to implementation of GST, besides alternative GST models.

These challenges include conceptualisation of a GST model that will fetch adequate revenue to the Centre and states to meet the growing expenditure needs, ultimately introducing a common market across the country, he said while releasing an Assocham study - "GST: Imperative for Economic Growth."

"Even Prime Minister has indicated that we would be working toward GST," he said.

However, the Centre and states would have to agree whether there is a need for an amendment in the Constitution to introduce the GST.

Although, initially there was no specific provision for levying service tax by the Centre, but through Constitutional amendment, Centre has been empowered to tax services, or pass on that power to states to tax certain services with Parliament approval.

The Finance Ministry and the VAT panel would deliberate on whether GST could be introduced within these legal constraints, said Shome.

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

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