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: ACCOUNTING STANDARDS :: VAT Audit :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: due date for vat payment :: TDS :: empanelment :: cpt :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: ACCOUNTING STANDARD
 
 
Direct Tax »
 Advance tax calculation: Firms may have to furnish Apr-Sept income estimates
 Companies may have to furnish Apr-Sept income estimates to I-T dept
 CBDT working on a draft rule that makes it compulsory for companies to provide income estimates by Nov 15
 Companies, HNIs may soon have to specify reason for paying less advance tax than previous year
 TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
 CBEC tells field officers to take GST disputes to Supreme Court
 Jurisdiction-free income-tax assessment on the cards
 CBDT asks I-T department to take urgent steps
 TDS on interest on deposits made under the Capital Gains Accounts Scheme, 1988 where the depositor has deceased
 Tax evaders set to face action: CBDT chairman Sushil Chandra
 Income-tax department calls big corporate entities to pay advance taxes

Finance Minister hopeful of DTC roll out from April 1, 2012
August, 08th 2011

Finance Minister Pranab Mukherjee on Saturday expressed hope that the DTC would be cleared in the Winter Session of Parliament and there would be no problem in rolling out the new direct tax regime from April 1, 2012.

"I am hopeful that the Parliamentary Standing Committee will submit its report by Winter Session. And if we can get it through, in the winter session, which most probably would be possible, then there would be no difficulty to bring it into operation from April 1, 2012," he said at a CII event here.

The Direct Taxes Code (DTC) Bill, which was introduced in Parliament last year, proposes to replace the 50-year old Income Tax Act. Mukherjee said since the Bill is still with the Standing Committee, stakeholders have time to give their views.

On implementation of the new indirect tax regime, Goods and Service Tax (GST), he said, efforts are on to bring in convergence of views in Parliament. "We are working on it.. Divergence of views delay the process of getting it (GST Bill passed) as fast as we desire to. But there is no reason of despondency," he added.

He expressed hope that opposition parties would "extend their support in the final stage of getting it approved by both the Houses of Parliament."

Last month, senior BJP leader and Bihar Deputy Chief Minister Sushil Kumar Modi was elected as the chairman of the Empowered Committee of State Finance Ministers on GST.

Introduction of GST, which would subsume central and state taxes like excise, customs, service tax, sales tax and VAT has been pending for years in the absence of political consensus. A Constitution Amendment Bill has already been introduced in Lok Sabha for roll out of GST.

The Bill, however, is being opposed by the states, especially BJP-ruled ones, as well as BSP-ruled Uttar Pradesh, as they say its provisions would curtail their power to levy taxes.

Replying to another query regarding sops on infrastructure creation for gas transportation, the Minister said since Parliament was in session he would not make any comment, but added, "the matter is receiving our attention."

Regarding tax benefits to the manufacturing sector till the time DTC is introduced, Mukherjee said, any change in the existing policy will not be feasible.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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