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: list of goods taxed at 4% :: due date for vat payment :: articles on VAT and GST in India :: VAT Audit :: TDS :: empanelment :: ACCOUNTING STANDARD :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: ACCOUNTING STANDARDS :: form 3cd :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« Service Tax »
 GST Network to begin accepting fresh registrations from June 25
 Indian GST is significantly unique, but is it better?
 GST example of national integration
 6 reasons you need not fear the GST regime
 Tax return filing extension on GST may not be enough
 GST: ‘Tech readiness, tax administration key challenges’
 GST return filing rules relaxed for Jul-Aug, July 1 rollout
 GST Council gives return filing breather to India Inc for 2 months
 All eyes on 18 June as GST Council meets to iron out niggling issues
 GST Council's June18 meet to finalise e-way bill, anti-profiteering rules
 Valuation of Tax liabilities Under GST Regime

IT network for goods and services tax by August: Pranab Mukherjee
February, 23rd 2012

India will soon roll out an IT platform to integrate central and state indirect taxes regime, Finance Minister Pranab Mukherjee has said.

"We are working with the state governments for an early implementation of goods and services tax. Towards this end, an IT network called GSTN is being created to ensure integration of the tax systems of the centre and the states," Mukherjee said at the investiture ceremony to confer Presidential Award of Appreciation Certificates to Customs and Central Excise officers.

States had given their in-principle nod to launch the IT framework in August and the finance ministry is expected to soon take the proposal to the cabinet for its nod.

A common IT framework will allow traders all over the country to use their permanent account number, or PAN, as the tax identification number for payment of all direct and indirect taxes. The move will not only benefit taxpayers but also tax authorities to keep a tab on transactions more effectively by linking it with other tax payments.

Mukherjee said GST will bring about a paradigm shift in the arena of indirect taxation in the country and will give a boost to the tax revenues of the centre and the states.

IT infrastructure is crucial for the success of the proposed GST, which will replace a plethora of indirect taxes including excise duty, service tax, value-added tax.

Speaking on tax collections, Mukherjee said the indirect tax collection target of 3.93 lakh crore will be met in the current fiscal despite moderation in economic growth. "I am confident that the department (Central Board of Excise and Customs) would not spare any effort in meeting the indirect tax collection target. In fact, already indications are there," he said. Total collection of indirect taxes in the first 10 months of the current fiscal was 3.17 lakh crore.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
System Testing Solution Manual Software Testing Solutions Automation Software Testing Solutions System Workflow Testing System Manual Testing

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