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: list of goods taxed at 4% :: VAT RATES :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: form 3cd :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: cpt :: Central Excise rule to resale the machines to a new company :: empanelment
« Service Tax »
 Service tax officials transferred for favouring realtor
 GST, a challenge and opportunity for accounting professionals’
 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

Meet with Pranab Mukherjee For Finalising Service tax
September, 21st 2009

States will be holding a meeting with Union Finance Minister, Pranab Mukherjee, next month for preparing the final draft of the items, which need to be a part of the proposed Goods and Services Tax
We will meet the finance minister on October 8 and then finalise the list, chairman of Empowered group of State finance ministers Asim Dasgupta said. He mentioned that states have decided on two rates in GST structure the standard one and a lower one, which is meant for the essential goods.

Along with the precious items will have a special rate, which will be effective with the implementation of the new tax system, which is slated to be introduced with effect from April 1, 2010.
The list of goods and services to be included in the list has not been finalised yet. There would be a dual structure of GST, one at the centre and the other at the states level.

While there will be two basic rates in the states, the centre is yet to take a call on the number of rates.

Since fiscal stimulus is mainly given by cutting excise duty by 6% and service tax by 2%, the rate would also decide whether stimulus would continue or rolled back or diluted, says reports.
He also mentioned that the central and state structure will go in with each other, but the centre may opt for a single rate. The exact rates will be finalised after the decision on the items to be included in GST is taken into consideration. When the list of items in GST is finalised, exempted goods category would also be known.
The items which may be excluded from GST list can be essential goods like food grains. But he added that the decision regarding food grains is not yet reached.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

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