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!
« Service Tax »
Open DEMAT Account in 24 hrs
 Central Govt Extended Time Limit to File Refund Claim of Service Tax on Exported Goods: CESTAT allows Refund
 Filing Income Tax Return Early? Make Sure To File Correct Details
 ITR 3 What is ITR 3 Form & How to File ITR-3?
 ITR Filing 2024: How To Claim Tax Refund Online, Check Step-by-step Guide To Know Status
 Income tax return filing for FY23-24: Check details of Form 16 issue date, ITR forms
 How to maximize tax benefits for senior citizens in India
 Income tax return filing: ITR filing 2024 date is upon us, but should you rush to file?
 Income Tax Return AY 2024-25: ITR-1, ITR-2, ITR-4 Enabled for Online Filing; Check Details
 New Tax Regime: What Is It? How Can You Opt For It? Comparison With Old One
 6 Ways to Save Income Tax On New & Old Tax Regime for FY 2023-24
 Income Tax SFT return filing due date extension: Facility to remain open for a couple of days Latest news

GST rollout may be hit by more delays
February, 10th 2010

India's ambitious target for rolling out a uniform goods and services tax in India is already behind schedule and now it looks like the rollout may not happen for another year or so, a move that will upset the governments tax planning.

There are signals that the GST rollout is looking shaky even by September of the new fiscal. NDTV has learnt that differences between the centre and states will take longer than expected in getting settled and this could further derail the preparation for a timely rollout of the GST.

A mid-fiscal GST rollout, sometime in September-October of this year, is virtually ruled out. Apart from the time needed for constitutional amendments to introduce GST, lack of consensus over key issues like states wanting to levy dual rates for goods, different exemption thresholds and keeping alcohol and petroleum products out of the GST chain are expected to cause further delay.

According to finance ministry sources, even a April 1, 2011, timeline for a smooth introduction of GST seems ambitious.

Analysts say its unlikely the government would hold on to the same excise and service tax rates, with the possibility of GST getting postponed by a complete year.

This means a delay of over six months in introducing the GST could prompt policymakers to initiate a soft rollback of some of the excise and service tax rate cuts. While the coming budget might set the tone for it, the actual rollback could even happen sometime later in April-May when the budget gets passed in the Parliament.

 

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