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: Central Excise rule to resale the machines to a new company :: empanelment :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: VAT Audit :: form 3cd :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: due date for vat payment :: ACCOUNTING STANDARDS
 
 
Service Tax »
 Goods and Services Tax (Compensation to States) Amendment Act, 2017.
 Services sector need to brought under Section 72A of the Income-Tax Act
 Simplifying GST: Creating a Grand Simple Tax
 The way ahead for goods and services tax
 Goods & Service Tax (GST): Recent Clarifications
 Tax payers can see status of returns filed on GSTN portal
 Export And Import Of Goods Under GST
 The Finance Resolution And Deposit Insurance Bill, 2017
 Payment made in revenue sharing deal exempt from service tax
 India seen posting stronger growth as businesses adjust to new tax
 GST High Powered Committee On Return Filing - Representation by GST Research Foundation

Government to introduce GST this year after consultation with states
July, 23rd 2014

Government will try to resolve issues hampering the roll out of the goods and services tax (GST) within this year, Finance Minister Arun Jaitley informed the Lok Sabha on Friday.

"The government targets to find a solution in the course of this year and approve the legislative scheme which enables the introduction of GST (Goods and Services Tax)," he said during Question Hour.

Jaitley said government is "willing to take a pragmatic view", but did not want a "token GST, but a substantial GST." The Economic Survey had suggested the government could start with a central GST. "There should be consensus" finance minister said adding that GST will be introduced after consulting the states.

"Government has also assured states that it will compensate for any revenue loss incurred by them, from the date of introduction of GST, for a period of three years," he said.

"Time has come for pragmatic approach...one or two exceptions the government can consider" Jaitley said adding that GST would spur growth.

"GST is likely to bring about a fundamental change in the tax structure by redistributing the burden of taxation equitably between goods and services," Jaitley said.

However, finance minister cautioned that GST should include most indirect taxes.

"If too many taxes are excluded, the objectives of GST will not succeed...It (GST) is a good cause that everybody fall in line," he noted.

GST was to be originally rolled out from April 1, 2010 but has been delayed because of concerns of states.

"States' concerns with regard to the GST mainly relate to loss of revenue, fiscal autonomy, compensation, keeping certain items out of GST, subsuming of certain taxes in GST etc," Jaitley said.

He cited the case of Punjab and Gujarat. While the former was worried about purchase tax, the latter has expressed concerns over loss of manufacturing revenues.

"Certain states may face problems in initial stages of implementation of goods and services tax...Those will be discussed," he said. services tax...Those will be discussed," he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

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