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: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: VAT RATES :: cpt :: ACCOUNTING STANDARD :: TDS :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: form 3cd :: VAT Audit :: ACCOUNTING STANDARDS :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
« General »
 Banks warn share tax hike threatens Paris' post-Brexit appeal
 PMC may decide on property tax rebate for IT firms this week
 I-T Dept is giving out certificates of appreciation. Have you received yours?
 Government works on ironing out benefits refund mechanism for exportersa
  Tax officials are using an IDS provision to question transactions beyond six-year-limit
 Tax-free bonds rally like midcap funds
 Senior citizens do not have to pay advance tax on salary and interest income
 GST: Audit commissioners to get adjudication powers
 Interest on NRE rupee account can be exempt from tax under FEMA
 Impact of GST on Real Estate Sector
 GST regime: Tax payers allowed to take option of third-party interfaces

FM to discuss GST implementation
September, 30th 2009

Asim Dasgupta, the chairman of the empowered group of state finance ministers, today met Union Finance Minister Pranab Mukherjee and other officials to discuss the preparations on the implementations of the proposed Goods and Services Tax (GST) from April 1 next year. Dasgupta, the finance minister of West Bengal, expressed his confidence and said we will not miss the target of implementing the GST. All efforts are on to hammer out the differences with some of the states.

Dasgupta also claimed that the problem with Tamil Nadu has been sorted out and some of the BJP-ruled states will soon fall in line.

According to top sources in the finance ministry, the BJP-led National Democratic Alliance (NDA) is a divided house over its opposition to the GST. The main voice of dissent is the finance minister of Madhya Pradesh Raghav Ji.

But Gujarat Chief Minister Narendra Modi and even Bihar Deputy Chief Minister Sushil Modi has told the Centre that they want the GST to come in place from the next financial year.

The GST is expected to replace most of the taxes levied by the Centre like service tax and central excise. It will also offset taxes charged by states like the VAT, purchase tax and octroi.

While NDA-ruled states like Punjab has raised objections, those ruled by the Congress party like Haryana have also expressed apprehensions about the proposed tax.

These two states have informed the Centre that they do not want to do away with the purchase tax on agricultural products as it is a major source of their revenues. Maharashtra, another Congress-ruled state, wants to retain the octroi.

Dasgupta held a two-and-a-half-hour-long discussion with finance ministry officials today before meeting Mukherjee separately for 45 minutes.

We held a detailed discussion today with the central government officials as the GST is a dual model involving both the state as well as the Centre. But we are quickly reaching convergence, Dasgupta told Business Standard.

The empowered group of state FMs will hold another meeting with Mukherjee on October 8. This meeting, however, will not be attended by any minister from Maharashtra and Haryana as both the states are going to polls on October 13.

A section of the Congress is keen to incorporate the GST debate as one of the election issues in poll-bound Maharashtra.

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

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