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: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: cpt :: due date for vat payment :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: VAT Audit :: VAT RATES :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: TAX RATES - GOODS TAXABLE @ 4%
 
 
Direct Tax »
 I-T department asks taxpayers to update their information on e-filing portal
 Companies may have to submit income estimates by 15 November
 CBDT proposal on advance estimates of tax liability irks industry
 Advance tax calculation: Firms may have to furnish Apr-Sept income estimates
 Companies may have to furnish Apr-Sept income estimates to I-T dept
 CBDT working on a draft rule that makes it compulsory for companies to provide income estimates by Nov 15
 Companies, HNIs may soon have to specify reason for paying less advance tax than previous year
 TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
 CBEC tells field officers to take GST disputes to Supreme Court
 Jurisdiction-free income-tax assessment on the cards
 CBDT asks I-T department to take urgent steps

Budget brings procedural changes for goods and services tax: CBEC chief
March, 07th 2016

Gearing up for the roll out of the goods and services tax regime, the Union Budget 2016-17 has introduced several procedural changes as well as brought in a number of sectors within the tax net, said Najib Shah, Chairman, Central Board of Excise and Customs.

A re-jig in the rates of service tax and excise duty would be possible only when a decision is taken by the proposed GST Council, he said.

“Before we revamp rates, the Constitution Amendment Bill has to be passed by Parliament and the GST Council needs to be set up. The Council will decide the rates,” he told BusinessLine.

Finance Minister Arun Jaitley was expected to announce a hike in service tax rates and bring the excise duty rates in sync for GST in the Union Budget that was presented on February 29.

However, he remained largely silent on the long pending indirect tax reform though the Budget announced amending the Cenvat Credit Rules, 2004, to improve credit flow and bringing sectors such as jewellery and branded ready-made garments in the tax net.

Chief Economic Adviser Arvind Subramanian in his report on possible revenue neutral rates for GST had suggested a standard rate between 17 per cent and 18 per cent for GST. But the report is yet to be examined by the Empowered Committee of State Finance Ministers.

Shah also said the model GST law that will be enacted by the Centre and States is still under discussion in the Empowered Committee and expressed hope that it will be finalised soon.

“The draft law is still under discussion and will be put out for public comments before it is finalised,” he said.

Though a new deadline for GST has not been announced, the CBEC is working on administrative and infrastructure preparedness for the new tax, he added.

The Finance Minister is expected to take up the Constitution Amendment Bill in the ongoing Budget Session of Parliament.

 

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Wholesale Silver Jewelry

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