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: Central Excise rule to resale the machines to a new company :: VAT Audit :: VAT RATES :: due date for vat payment :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: articles on VAT and GST in India :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: form 3cd :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
« Service Tax »
 Service tax officials transferred for favouring realtor
 GST, a challenge and opportunity for accounting professionals’
 Service Tax On Hotels And Restaurants – Recent Delhi High Court Judgment
 GST Council discusses 4-tier tax rate, cess on demerit goods
 Why you shouldn’t miss these three simple tax saving options beyond Section 80C
 Determination of value for transactions between the Related parties under GST Laws.
 Higher collections can offset GST losses
 GST to subsume over a dozen Central, State taxes
 Incidence of indirect taxes won't go up under GST
 Advanced Budget date: Absence of a GST rate may present estimation challenges
  Tax queries answered by Dilip Lakhani, Senior Chartered Accountant

GST will simplify tax regime, make industry competitive: RBI
April, 08th 2016

The implementation of GST will make industry more competitive through dismantling of the complex indirect tax structure and boost the tax revenue of states, RBI said on Thursday.

Cumulatively, these measures are likely to propel states on the path of fiscal consolidation without compromising on expenditure quality, the apex bank said in a report titled ‘State Finances: A Study of Budgets of 2015-16’.

The Goods and Services Tax (GST) is expected to simplify and harmonise the complex indirect tax regime in the country and reduce the cost of production, making industry more competitive, it said.

The proposed dual GST envisages taxation of supply of goods and services simultaneously by the Centre and the states, the report said.

By unifying the tax structure across states, the new tax regime would pave the way for a common national market for goods and services.

According to the report, GST will broaden the tax base and result in better tax compliance, enabled by a robust IT infrastructure developed for the purpose.

Due to the seamless transfer of input tax credits from one stage to another in the value chain, there is an in-built mechanism that would incentivise tax compliance by traders. GST is the next step forward towards wide-ranging indirect tax reform after the introduction of value-added tax (VAT), the report said.

The bill for a pan-India roll-out of GST has been passed by the Lok Sabha but is stalled in the Rajya Sabha where the BJP-led government lacks a majority.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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