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: Central Excise rule to resale the machines to a new company :: form 3cd :: due date for vat payment :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: VAT Audit :: ACCOUNTING STANDARDS :: VAT RATES :: empanelment :: ACCOUNTING STANDARD :: cpt
 
 
Service Tax »
 GST: When does a service provider need to register across multiple states?
 GST Council to examine sectoral issues in August 5 meet
 Number of taxpayers under GST set to eclipse that of previous tax regime
 Goods and Services Tax will accelerate growth,
  Central Goods and Services Tax (CGST) Rules, 2017
 Goods bought with loyalty points will face tax under GST
 substitution of Service Tax by Goods and Services Tax (GST)
 Income Tax: TDS deducted but ITR not filed? Here's what professionals need to do
 9 ways GST could impact home buyers
 Consumers hailed GST, but there's need for awareness'
 Tax departments keep a close watch on prices post GST rollout

GST panel says no to placing mobiles in declared goods list
May, 15th 2013

State finance ministers today turned down the Centre's request to place mobile phones and tablets in the list of declared goods in the goods and service tax (GST) regime, saying the idea is untenable.

The Ministry for Communication and Information Technology's request for placing mobile phones and tablets in the declared goods list came up for discussions at the meeting and was rejected, Sushil Kumar Modi, chairman of the Empowered Committee of State Finance Ministers on GST, told reporters after the conclusion of a two-day meeting of the committee.

"The panel is of the firm view that the idea is untenable and no item should be kept in the declared goods list in the GST regime ," he said.

The finance ministers have gathered here to sort out complex issues such as tax rates and exemptions under the proposed indirect tax regime. Modi, who is also the Deputy Chief Minister of Bihar, said the GST network would create a robust infrastructure for effective implementation of GST regime.

The IT-enabled GSTN will provide an interface to stakeholders and avoid evasion in indirect taxation systems.

The Empowered Committee also set up two important committees, one to look into taxation of sugar, textile and tobacco products, and the other to draft GST legislation.

Giving the latest value added tax (VAT) revenue position of states, Modi said Bihar was at the top with 30.5 per cent VAT revenue growth followed by Tamil Nadu with 27.7 per cent and Gujarat with 26.5 per cent.

However, the panel could not take a call on revising the lower VAT rate from 5 per cent to six per cent, Modi said.

The GST panel decided to hold a meeting of special category states, including Jammu and Kashmir, by the end of June or early July to discuss the implications of the proposed GST regime on them in view of the fact that they enjoy a number of tax exemptions due to their special category status.

Mussoorie Meeting

* State finance ministers say the idea of mobile phones and tablets in the list of declared goods in the goods and service tax (GST) regime is untenable

* Sushil Kumar Modi, chairman of the panel, says the GST network would create a robust infrastructure for effective implementation of GST regime

* Committee also set up two panels: one to look into taxation of sugar, textile and tobacco products, and the other to draft GST legislation.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Portal Design Website Design Portal Designing Website Designing Web Design Professional Portal Design Professional Website Design Professional Web Design Portal Design India Website Design India Portal Designing India Website Designing India Web Design India Professional Portal Design India Professional Website Design India Chicago Professional Web Design New York Professional Web Design California Website Design Florida Website Design New Jersey Website Design Britain UK Website Design London Manchester Website Design

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