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: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: TDS :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: ACCOUNTING STANDARD :: empanelment
 
 
General »
 Advance tax payout by top cos grows just 2% in Sept quarter
 Why abolishing personal income tax may not be a good idea
 Questions about the GST cess
 How to prepare for the looming tax-extension deadline
 Income tax: Gratuity for employees raised to Rs 20 lakh; here is how you will benefit
 Haryana to set up scrutiny panel on GST benefits
 Waive certain taxes for companies in insolvency proceeding
 I-T department to appoint 7600 more tax return preparer scheme to cover entire country
 All eyes are on GST as Centre plans higher social pension
 Exporters demand total exemption from GST
 Here's what you must know to stay clear of taxman

Recent developments in the EU: GST in India
May, 02nd 2011

Several previous articles in this column have addressed various aspects of the impending GST, including on the Constitution (115th) Amendment Bill 2011, which is a significant recent development relating to the GST.

However, while we have been debating the issues and challenges with respect to the dual GST, ranging from rates, coverage and exemptions to input tax offsets, thresholds, zero rating and the like, it is important, and indeed interesting, to note that the European Union (EU), which is home to the VAT in a manner of speaking, has itself felt the need to commence a thorough review of the VAT/GST system that is currently prevalent in its member countries.

It has accordingly published a Green Paper on the future of VAT in the EU, for a progression towards a simpler, more robust and efficient VAT system. Surely, India should take note of these developments as there are several similarities in the issues that have been identified in the EU as needing resolution and the issues that we are currently grappling in relation to the dual GST.

The idea is to evidently have a GST in India as well which would foster a simpler, more robust and efficient indirect tax system, as is desired by the EU. This article, the first of a series, discusses the background to and the approach of the Green Paper.

Subsequent articles will focus on the details as contained in the Green Paper as also the European Commission Staff Working Document, which is the accompanying document to the Green Paper, as well as compare and contrast these with the issues that are relevant for the GST.

By way of background, VAT was first introduced in Europe by France in 1954 and thereafter adopted by the member States of the European Economic Committee in 1967. VAT has become a major source of revenue in all these years and by 2008, VAT receipts accounted for 21.4 per cent of the national tax revenues of EU member States.

For more details click below

Source: http://www.business-standard.com/india/news/gst-in-india-recent-developments-ineu/434121/a


 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

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