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
Service Tax »
 Timeline for issuance of tax return intimation is 12 months
 How to save income tax via medical expenditures under sections 80D, 80DD, 80DDB, 80U
 4 Tips to protect yourself against tax return fraud this year
 Companies with high input tax claims under lens
 Goods and services tax rate cut a conundrum?for realty?developers
 No marginal relief for taxpayers whose taxable income exceeds Rs 5 lakh
 Did you not file? Know exactly how much penalty you will have to pay
 Your salary structure decoded - Know how much you can save on taxes
 How did Netflix get away with not paying income tax in 2018?
 Paying income tax does not grant relief from Goods and Service Tax
 Want to reduce your taxable income to Rs 5 lakh? Here's a list of all deductions you can claim

Meeting on GST tomorrow
January, 07th 2010

As the scheduled date for introduction of new tax regime GST draws closer, states will meet here tomorrow to discuss the fine contours of the proposed system.

The proposed Goods and Services Tax (GST) will replace most of the indirect tax levies like excise and service tax at the Centre and Octroi and VAT at the state level. The tax was scheduled to be introduced from April 1, 2010.

However, there are apprehensions that its introduction could be delayed by about six months to an year. Many states, including Madhya Pradesh, Tamil Nadu, Gujarat and Rajasthan, are demanding that the implementation be postponed as there is no consensus on the rates.

The 13th Finance Commission task force on GST has also recommended GST be delayed by six months i.e. till October along with suggesting the GST tax rate of 12 per cent--5 for the Centre and 7 per cent for the states.

However, states feel that a rate of over 15 per cent together for the Centre and the States would be good idea.

The Empowered Committee of state finance ministers has come out with a discussion paper on GST on November 10 last year. The discussion paper proposes replacing central levies like excise duty, service tax, special additional duty, countervailing duty with GST.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

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