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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: articles on VAT and GST in India :: TDS :: VAT Audit :: empanelment :: due date for vat payment :: cpt :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: form 3cd
 
 
« News Headlines »
 Income tax dept notifies amendments for sharing taxpayer information
 Seven things you must do before 31st March
 Income Tax saving investments: Top 5 options available for high-income individuals
 How to use zero tax rule on long term capital gains on stocks
 GST Returns - Furnishing details of inward supplies
 5 ways to maximise you income tax return
 Income-tax (2nd Amendment) Rules, 2017
 Soon, Faster PAN, An App For Filing Tax Returns
 Changes in income tax return filing process
 New Income Tax Rates And Deductions Applicable From April 1, 2017
 Tax and transparencya

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