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: VAT Audit :: TDS :: empanelment :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: VAT RATES
 
 
« General »
 How you can reduce your tax to zero if you have income within Rs 10 lakh
 NRIs’ overseas bank info needed only for tax refund
 Non-performance: I-T dept transfers 245 commissioners
 Income Tax efiling: Tax implications resulting from clubbing of income
 Guidelines for selection of cases for scrutiny during the financial-year 2017-2018-regd
  GST: How companies are gaming the system
 Goods And Services Tax transparency: Elimination of added taxes to boost investment in realty
 In a first, Income Tax department to charge govt official under new benami law
 Income Tax Return Filing: 10 common mistakes people make while filing return of income
 Income Tax efiling: A few essential facts for senior citizens to keep in mind
 Pre-GST discounts get Maharashtra 16% more sales tax in three months

This session, Govt. may bring constitution amendment bill on GST
March, 16th 2011

The Government today gave green signal to the Constitution Amendment Bill indicating a strong desire to push the Goods and Services Tax, despite lack of consensus among states for implementing the new regime on indirect taxes.

It will try to introduce the Bill in the ongoing Budget Session itself which concludes on March 25.

We will try to introduce it in Parliament in this (Budget) session, Finance Minister Pranab Mukherjee told reporters here.

Although the Bill was approved in principal by the Union Cabinet, headed by Prime Minister Manmohan Singh, there was a view in the Cabinet that the draft of the proposed legislation was not perfect in nature, sources said.

Therefore, the law ministry has been asked to fine tune the Bill, they added.

Sources said a lot of issues, particularly those raised by states, would be sorted out when it is discussed by the Standing Committee to which it would be referred to after being introduced in Parliament.

When the Bill is referred to Standing Committee of Finance, state governments and other stakeholders will get a chance to suggest changes to make it acceptable to all, a source added.

The GST will subsume indirect taxes such as excise duty and service tax at the central level and VAT on the states front, besides local levies.

The Finance Ministry has worked on the final draft Amendment Bill, the fourth since the discussions on the new tax regime started. The first three drafts were rejected by various states raising concerns over their autonomy.

The fourth draft, a hybrid of the second and third draft, has proposed that the GST council for taking decisions on all important matters will be formed through a Presidential order.

In addition, the composition of the GST Dispute Resolution Authority, proposed to be a part of the Amendment, will be decided by Parliament, sources said.

Furthermore, petroleum, natural gas, diesel and ATF have been kept out of the GST ambit in the final draft.

Last year, a draft Constitution Bill proposed by the Centre to the states had suggested a council chaired by the Union Finance Minister, with states as members, to make changes in GST.

The states, especially NDA-ruled ones, had raised objections to the proposal, saying it would give veto power to the Union Finance Minister over state taxation issues.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

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