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: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: VAT Audit :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: list of goods taxed at 4% :: due date for vat payment :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD
« Service Tax »
 Goods and Services Tax: There should not be more than three grades of rates, says Chidambaram
 Chidambaram says there cannot be multiple tax slabs in GST
 Service tax officials transferred for favouring realtor
 GST, a challenge and opportunity for accounting professionals’
 Service Tax On Hotels And Restaurants – Recent Delhi High Court Judgment
 GST Council discusses 4-tier tax rate, cess on demerit goods
 Why you shouldn’t miss these three simple tax saving options beyond Section 80C
 Determination of value for transactions between the Related parties under GST Laws.
 Higher collections can offset GST losses
 GST to subsume over a dozen Central, State taxes
 Incidence of indirect taxes won't go up under GST

Task force on GST to submit report in two weeks: CBEC
July, 25th 2011

The task force on Goods and Service Tax (GST) set up by the finance ministry will submit its report within two weeks, said Central Board of Excise and Customs (CBEC) Chairman S Dutt Majumder on Friday.

By mid-September, we hope to finalise business rules. A dispute settlement authority will be up and running when the proposed tax is introduced to resolve conflicts, he said at an Associated Chambers of Commerce and Industry of India (Assocham) event.
Majumder said it was possible to introduce GST from the start of the next fiscal, but even if the rollout was postponed it would not cause any harm. GST has already missed two deadlines April 2010 and April 2011 following differences between the Centre and states over its structure.

Interacting with journalists, earlier this week, Finance Minister Pranab Mukherjee had said his ministry will strive to synchronise the introduction of GST with the Direct Taxes Code. However, he had added that it might be difficult to roll out the proposed tax reforms from April 2012.

Majumder said work was on for a special IT platform for smooth implementation of GST. The special purpose vehicle (SPV) GST N (Network) will be owned by three stakeholders the Centre, the states and technology partner NSDL, he said. GST cannot be implemented unless it is supported by a robust IT infrastructure.

After prolonged opposition from BJP-ruled states over the present GST proposals, the way forward for the largest indirect tax reforms in India is expected to see the light of the day following Bihar Finance Minister Sushil Modis election to the chairman post at the empowered committee on GST earlier this week.

However, BJP leaders said it was difficult to implement GST from next fiscal. A constitution amendment bill to roll out GST is pending with the standing committee of Parliament. Majumder said the bill is likely to be taken up for consideration and passage during the winter session.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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