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: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: due date for vat payment :: list of goods taxed at 4% :: form 3cd :: VAT RATES :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: VAT Audit
 
 
« Service Tax »
 Recovery Of Tax Under Model Gst Law
 Income Tax officials hunt for Mumbai’s ‘ghost’ assessee
 GST delay to impact Budget
 If GST not rolled out by Sept, there won't be taxation in country, warns Jaitley
 India’s E-Service Tax Will Add To Foreign Content Providers’ Woes
 GST Council to discuss model laws, tax jurisdiction today
 Tax Invoice Under GST
 Insurance may fall under 12% tax slab in GST, from 14% service tax currently
 GST draft makes it must for companies to pass tax benefit to consumers
 To speed passage, Government plans GST Bills as money Bills
 No service tax on train tickets booked through IRCTC till December 31

Oppose Govt's GST proposal
July, 22nd 2010

Some of the state Finance Ministers are not on board with the governments proposal on the goods and service tax (GST), report Media.

The government has proposed a single rate state and centre GST between 12-20% in the first year, while the peak effective rate will be at 15%.

There is a divide between NDA ruled states and UPA ruled states. Madhya Pradesh (MP), Uttarakhand and Karnataka have not agreed to the proposal sating that they want higher tax rate.

Finance Minister Pranab Mukherjee is meeting the state FMs on this today. The Constitutional Amendment on GST has been presented to the states.

MP is vehemently opposed to creating council Of Finance Ministers on GST reasoning that it may inflict serious blow to state autonomy. MP implored that GST should be revenue positive and be flexible to allow states to decide rates.

It also said that the proposed tax collection method is complex due to supply chain and hence it is unrealistic to estimate that GST will reduce tax evasion.

MP wanted that primary commodities should remain outside GST while primary commodities must remain within states domain.

MP further suggested that taxation of farm income, land, forest produce and mining should be outside GST. MP argued that Article 286 amendment and restrictions on states to levy sales tax needs to be removed.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

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