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: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: due date for vat payment :: form 3cd :: ACCOUNTING STANDARDS :: cpt :: VAT RATES :: Central Excise rule to resale the machines to a new company :: empanelment
« Service Tax »
 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
 Advanced Budget date: Absence of a GST rate may present estimation challenges
  Tax queries answered by Dilip Lakhani, Senior Chartered Accountant
 FinMin warns tax officials of action against GST protest
 Model GST Law may redefine employer-employee relationship

Govt approves IT platform for GST
August, 20th 2011

The Empowered Committee of State Finance Ministers gave its in-principle approval for creation of a portal, 'Goods and Service Tax Network' (GSTN), which is expected to provide an interface to all stakeholders, and avoid evasion in indirect taxation systems.

A special purpose vehicle (SPV) will be set up for introducing the information technology infrastructure (GSTN), which is based on recommendations made by a group chaired by Nandan Nilekani.

In a meeting of the the state Finance Ministers here, Nilekani, who chairs the Empowered Group on IT Infrastructure for GST, gave a presentation on the subject.

"He (Nilekani) gave a presentation of the subject and there was an in-principle approval by the Empowered Committee on this portal," Bihar Deputy Chief Minister Sushil Kumar Modi, who is also the Chairman of the Empowered Group of State Finance Ministers, told reporters.

"This (portal) will be set up as a company and we will finalise the details of that company soon," Nilekani said.

The SPV called GSTN (Network) will be owned by the three stakeholders; the Centre, states and technology partner NSDL.

"Even pending the coming of GST, this company in the short-term, will be used by the state governments and the central government to see how can you have a common entity registration across the country using the PAN number and also to make sure that tax payments across the different tax authorities are able to get synergy to ensure that there is no tax evasion," Nilekani said.

He also briefed the State Finance Ministers with regard to the GST pilot project currently under way involving the Centre and state tax departments.

"When the GST comes, it will be a common portal for returns, registration, payments and for MIS (monthly income scheme)... This is a very important step because for the first time you will have common PAN based registration across the country for all taxpayers and you will be able to reduce tax evasion by watching the tax returns to different tax authorities," he said.

He said all indirect taxes like customs, service tax, excise and VAT will be using the same taxpayer identification.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Company Overview

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