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: cpt :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: list of goods taxed at 4% :: form 3cd :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: articles on VAT and GST in India :: VAT RATES
 
 
Service Tax »
 IT infrastructure firm of GST under scrutiny for tax evasion
 GST council OKs draft law on relief to states
 GST Network gets notice for avoiding service tax
 GSTN contract may attract tax
 GST Council may discuss tax rate on gold at Udaipur meet
 Govt may rework indirect tax estimates mid-way after GST
 GST Council meeting: States allowed to tweak taxpayer division after consulting Centre
 Government may rework indirect tax maths mid-way after GST entry
 Govt may rework indirect tax mid-way after GST entry
 GST rollout will reduce disparity among states
 GST: E-tailers oppose tax laws

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