Latest Expert Exchange Queries

Make 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) | 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: ACCOUNTING STANDARDS :: VAT RATES :: list of goods taxed at 4% :: VAT Audit :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: form 3cd :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« News Headlines »
 Know how you can claim return of income in Form 26 AS case
 What you must know for tax filing this year
 How to file tax return if you have two Form 16s
 10 things you should know about Form 26 AS
 How to file income tax return without Form 16
 How to rectify income tax returns
 Income-tax (21st Amendment) Rules, 2017
 Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid
 All you need to know about form 26AS
 How to file income tax return?
 7 changes that affect income tax return filing this year

Finmin to start work on GST road map
March, 29th 2007

True to its promise, the finance ministry is likely to start preparing a road map for the goods and service tax from next month. Sources said the ministry would formally hand over the work to the empowered committee of state finance ministers during their next meeting, scheduled for next month. A notification to this effect will also be issued.

The main work of the empowered committee will be to work out a feasible model for introduction of GST, which would take into account the countrys quasi-federal nature.

Tax experts are of the view that for an effective GST regime, both the Centre and state level indirect taxes need to be harmonized as world over goods and services attract the same rate of tax. The committee would be expected to work out a system for this, sources said.

The finance ministry is also keen to levy GST at the rate of 20%, which would be in line with the international practice. However sources said, the final decision would rest with the empowered committee.

A North Block official said, While we have another three years, before the tax is introduced, we would like to have a broad consensus on some issues by the end of this year. The recommendations of the Kelkar committee and the Shome committee would also be kept in mind.

The move would be in line with finance minister P Chidambarams Budget time announcement to hand over the work for GST to the empowered committee. The decision to hand over the work to the empowered committee was taken as it was felt that a consensus amongst states was essential for any kind of move towards GST. The best way to achieve this would be by handing over the work to the committee.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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