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: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: form 3cd :: ACCOUNTING STANDARDS :: due date for vat payment :: articles on VAT and GST in India :: TDS :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: Central Excise rule to resale the machines to a new company
 
 
News Headlines »
 Section 35 of the Income-tax Act?
 Notification regarding extension of last date w.r.t submission of closing stock by dealer.
 Integrated Goods and Services Tax (IGST) Rules, 2017 (As on 15.11.2017)
 Central Goods and Services Tax (CGST) Rules,2017 (As on 15.11.2017)
  101st Constitution Amendment Act, 2016
 Pr. Commissioner Of Income Tax-6 Vs. Mccain Foods India Pvt. Ltd.
 Section 10 of the Income-tax Act, 1961
 Income tax returns filing: No tax on gift received from relatives in form of cash
 Income tax returns (ITR): Here is why you need to pay higher tax on other incomes
 GST Update On Issuance Of Debit Notes And Credit Notes
 How Mutual Fund Investments Can Help Save Income Tax

GST will create win-win situation
July, 23rd 2010

Successful implementation of the Goods and Service Tax (GST) will create win-win situation for the Indian industry and can boost economy from USD 1 trillion to USD 2 trillion in a short period of time, said Finance Minister Pranab Mukherjee on Thursday.

While addressing the FICCI members on "Agenda for the Nation: The Tax Reforms- GST and DTC" in New Delhi, Mukherjee told industry leaders, "I seek your support. This tax is a win-win situation for Centre-state, industry and consumers. The gain from GST will propel Indian economy from USD 1 trillion to USD 2 trillion in a short period of time."

"The proposed GST will provide a level playing field to domestic producers besides stimulating the economy by removing tax distortions and tax competitions," he told FICCI members.

The minister on Wednesday had proposed a three-tier structure during the first year of introduction of the new indirect tax regime under which the central government will keep the tax on essential items at 6 percent, for other items the standard rate would be 10 percent, while for services the levy would be 8 percent.

The minister also urged the industry leaders to convince states and political parties to arrive at a consensus on the constitutional amendments needed to implement this major national reform. He had assured the state governments that they would be compensated for any revenue loss from GST roll-out.

"In the first year of GST (2011-12), the peak Central GST and state GST will be 10 percent each," he said, adding the rates can be reduced to 9 percent in the second year.

The effort, he added, reduce the CGST and SGST at 8 percent each for goods and as well as services. "In a phased manner, we will be able to achieve a single CGST and SGST rate for both goods and services," Mukherjee added.

Speaking on the issue of rising inflation, the FM has said that the inflation rate of some of essential items is moderating. He was very optimistic that inflation rate would come down to a moderate level of 5-6 percent in the coming months.

"And GDP will grow at 8.5 percent in the current fiscal (2010-11), provided the services sector fares well," he added.

 
 
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 Mission

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