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: VAT RATES :: articles on VAT and GST in India :: cpt :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: due date for vat payment :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: form 3cd :: VAT Audit :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company
 
 
Service Tax »
 Simple tax made complex
 Govt may review monthly GST return filing process
 Central Goods and Services Tax (Eleventh Amendment) Rules, 2017
 Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017
 Composition Scheme - the Central Goods and Services Tax (Removal of Difficulties) Order, 2017
 Govt asks taxpayers to file GST return for July by Tuesday
 FAQ On Government Services Under GST
 Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before During The Period From 03rd Octombar To 13th October , 2017.
 Facility of LUT extended to all exporters / registered persons subject to conditions
 GST implementation – Hasty turns out nasty
 What is Goods and Services Tax Network (GSTN)?

States ask Pranab to solve CST issue before demitting office
July, 04th 2012

States have asked Finance Minister Pranab Mukherjee to resolve the issue of payment of compensation for reduction in Central Sales Tax (CST) rate before demitting his office to contest the election of the post of President of India.

"I understand that you may be soon demitting the office of the Union Finance Minister. I therefore, humbly request you to kindly resolve the CST compensation issue before that," said Sushil Kumar Modi, chairman of the Empowered Committee (EC) of State Finance Ministers in a letter to Mukherjee.

Talking to PTI over phone, Modi while lauding Mukherjee for the work he has done so that the proposed Goods and Services Tax (GST) regime could be implemented at the earliest, cautioned that "in case the CST compensation issue remains unresolved longer, it may affect the implementation of GST".
 
Mukherjee, who is the UPA nominee for the Presidential election, is likely to resign on June 26 ahead of filing nomination to contest the election for the country's highest post.

States have complained that they got only about Rs 6,000 crore compensation in 2010-11 against the demand of Rs 19,000 crore. They are also agitated that they did not get any compensation in the last fiscal and the Centre has no plans for 2012-13 either.

As per an agreement, the CST rate was to be reduced to zero in a phased manner, and the Centre was to compensate state governments for the loss of their revenue on account of cut in the levy rate.

CST, a tax on inter-state movement of goods, was reduced from 4 per cent to 3 per cent in 2007-08, and further to 2 per cent in 2008-09 after the introduction of Value Added Tax (VAT). There was no reduction after that.

Although CST is levied by the Centre, the revenue goes to the state government and the state from which movement of goods commences gets revenue.Modi, a senior BJP leader and Deputy Chief Minister of Bihar, further said states are for early implementation of the GST regime.

A constitutional amendment bill for implementation of GST is currently being scrutinised by a Parliamentary Standing Committee headed by senior BJP leader and former Finance Minister Yashwant Sinha.

Modi said the committee is likely to submit its report during the forthcoming Monsoon Session of the Parliament.

He along with others had presented their views on GST before the Committee last week.
Earlier in January, the Union Finance Ministry had told the state governments that no further compensation would be provided on account of phasing out of CST.

GST would subsume levies like excise, service tax and states tax like value-added tax, entry tax and purchase tax.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

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