Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get 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) | 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
 
 
 
 
Popular Search: due date for vat payment :: VAT RATES :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: ACCOUNTING STANDARDS :: VAT Audit :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: Central Excise rule to resale the machines to a new company
 
 
Service Tax »
 Simple tax made complex
 Govt may review monthly GST return filing process
 Central Goods and Services Tax (Eleventh Amendment) Rules, 2017
 Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017
 Composition Scheme - the Central Goods and Services Tax (Removal of Difficulties) Order, 2017
 Govt asks taxpayers to file GST return for July by Tuesday
 FAQ On Government Services Under GST
 Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before During The Period From 03rd Octombar To 13th October , 2017.
 Facility of LUT extended to all exporters / registered persons subject to conditions
 GST implementation – Hasty turns out nasty
 What is Goods and Services Tax Network (GSTN)?

Gujarat not to accept Goods and Services Tax in current form
March, 29th 2011

The state government on Friday said that it was not ready to accept the proposed Goods and Services Tax (GST) in the current form, stating that it took away states' autonomy and could cause revenue loss to states.

Minister of state for finance, Saurabh Patel, said in the assembly that GST, if implemented in the current form, would take away all taxation related powers from the states.

"The autonomy of states will be taken away with implementation of GST in current form. This means that tax rates will be decided by the Centre and states will have no role in it. There will also be heavy revenue loss to states like Gujarat," Patel said during the discussion on budgetary allocations for finance department.

Quoting a recent report of National Institute of Public Finance & Policy, Patel said that implementation of GST would have caused revenue loss of more than Rs3,000 crore in 2009-10.

"According to our estimates, the revenue loss would have been to the tune of Rs5,000 crore in the current year," he said further.

Patel said that the Centre also accepted that some states would suffer revenue loss.

"Not just BJP-ruled states, even other states such as Tamil Nadu and Uttar Pradesh are not ready to accept GST in the current form, and have sought various amendments," he said further.

The minister said that big companies would benefit from implementation of the new tax regime, while the common man would suffer.

He also questioned the need for implementing GST if revenues of states were not going to go up, prices of essential commodities would rise and autonomy of states was going to be taken away.

He also pointed out that GST implementation would fail in absence of Information Technology infrastructure.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

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