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: ACCOUNTING STANDARD :: VAT Audit :: empanelment :: VAT RATES :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: form 3cd :: cpt :: ACCOUNTING STANDARDS
 
 
« Latest Circulars »
 Exim Bank's Government of India supported Line of Credit of USD 24.54 million to the Government of the Republic of Ghana
 Appointment of Statutory Central Auditors (SCAs) – modification of rest period
 RBI-Time running out for RBI rate cuts
 Monitoring of Foreign Investment under PIS in Indian Companies– M/s Indraprastha Gas Limited-
  Master Direction - Lending to Micro, Small & Medium Enterprises (MSME) Sector
 Auction of Government of India Dated Securities July 24, 2017
 RBI to conduct 7 day Variable Rate Reverse Repo Auction under LAF on July 24, 2017
 Results of Underwriting Auctions Conducted on July 20, 2017
 Master Circular – Detection and Impounding of Counterfeit Notes
 Monitoring of Foreign Investment under PIS in Indian Companies – M/s The Byke Hospitality Limited - 1. Increase in FIIs/FPIs Investment limit under Portfolio Investment Scheme from 24% to 40% Removal from the FIIs/ FPIs Caution List
 RBI's Monthly Bulletin for July 2017

PRESS RELEASE - Public debate on the issue of a negative list for taxation of services
May, 11th 2011

Government of India
Ministry of Finance
Department of Revenue
Tax Research Unit
****

Press Note

Ministry of Finance has initiated a public debate on the issue of a negative list for taxation of services. While presenting the Budget 2011, Honorable Finance Minister had in his speech announced the initiation of a public debate. The text of the speech is as below:

Many experts have argued that it will be desirable to tax services based on a small negative list, so that many untapped sectors are brought into the tax net. Such an approach will be very conducive for a nationwide GST. I propose to initiate an informed public debate on the subject to help us finalise the approach to GST.

The main issues that are sought to be deliberated in the debate are advantages and disadvantages of a negative viz a viz a positive list, the right approach for India, the International experience of taxation of services based on negative list, important issues arising by moving towards the taxation of services base on negative list, definition of the term service and possible list of services that merit to be included in the negative list. Areas that would need to be exempted separately even after moving towards the proposed negative list and the revenue implication of moving towards negative list are also to be deliberated upon.

Major industry federation and confederations (FICCI, ASSOCHAM, PHDCCI & CII) and academic institutions like NIPFP have been requested to participate and also anchor the public debate on the subject. All comments and suggestions regarding the issue have been requested by 15th June ,2011.

The Directorate General of Service Tax has been appointed as the nodal agency for the in-house debate and consultation on the subject by calling for the comments from field formations. A concept paper on the subject is proposed to be drafted after the feedback from the stakeholders.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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