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: TDS :: ACCOUNTING STANDARDS :: VAT Audit :: cpt :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: form 3cd :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: due date for vat payment
 
 
Service Tax »
 A 5-Point Guide For Buyers To Understand The Effect Of GST On Real Estate
 Stalled unsorted diamond imports to resume after GST rate revision
 TDS, TCS deductors can apply for GST registration from 18 September
 E-commerce companies face tax heat as I-T department says discounts should be treated as capital spend
 Central Goods and Services Tax (Sixth Amendment) Rules, 2017
 GST will also impact direct tax collection
 Seeks to extend time period for filing of details in FORM GSTR-6 for months of July & August
 GST: Is input tax credit available for tax paid on mobiles given to staff?
 GST filing, reconciliation solution launched
  Finance Ministry asks taxmen to submit note on high-pitched assessments
 Step by Step Guide for GST Enrolment for existing Central Excise / Service Tax Assessees

Pranab to meet FMs on July 21 on GST
July, 03rd 2010

Finance Minister Pranab Mukherjee is likely to meet his state counterparts on July 21 to discuss constitutional amendments needed to roll out the proposed GST and the compensation package for the states for the possible loss of their revenue due to this new indirect tax regime.

"The Finance Minister will meet the state finance ministers to discuss compensation packages and constitutional amendment required to implement the goods and services tax (GST)," a finance ministry official told PTI here today.

Before meeting Mukherjee, the empowered group of state finance ministers, headed by West Bengal finance minister Asim Dasgupta, will meet on the same day and discuss the constitutional amendment draft prepared by the law ministry to implement GST besides the compensation package for the states for any possible revenue loss they suffer due to GST rollout.

"We expect the draft constitutional amendment from the law ministry next week to implement GST. Some kind of preliminary approval of the empowered committee of state finance ministers is required (for this draft).

For that we would send it to them before the meeting," the official added.

The finance ministry had explored the feasibility of introducing a Fourth List (Union List, State List and Concurrent List being the other three) in the Constitution that gives both the Centre and the states equal taxation powers, as currently the Centre cannot impose indirect taxes beyond manufacturing, while the states cannot levy service tax. However, the Fourth List idea was dropped later on.

The other option is to allow the Centre and the states to levy GST by amending the Union and State Lists.

The states have already floated a discussion paper on GST, which will replace the excise duty and service tax at the Central level and value-added tax at the state level, besides the cess, surcharges and local taxes.

The GST is scheduled to replace most of the indirect taxes from April 1, 2011.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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