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
Latest Expert Exchange
Service Tax »
 Central Goods and Services Tax (Twelfth Amendment) Rules, 2018
 The Central Goods And Services Tax (Amendment) Act, 2018
  How much tax are you liable to pay on long-term capital gains on property?
 Finance Ministry simplifies GST refund claim process for businesses
 Section 44 (2) of the Central Goods and Services Tax Act, 2017 read with Rule 80 of the Central Goods and Services Tax Rules, 2017
 Advance Tax 2018 benefits for salaried employees, professionals, small business, married couples, seniors, homeowners, families
 Step by Step Guide for GST Enrolment for existing Central Excise /Service Tax Assessees
 Here’s all you need to know Income tax benefits on education costs for individuals
 How to track your income tax refund status? Check out details and step by step guide
 The Central Goods And Services Tax (Amendment) aBill, 2018
 How to get registered under goods and services tax

Tax department unveils draft rules for registration under GST
September, 29th 2016

The government has put out the draft rules for the Goods & Services Tax for discussion ahead of the September 30 meeting of the Centre and states to discuss the regulations. In view of the tight deadline, the finance ministry has asked for feedback by September 28. Rules relate to registration, invoice and payments, laying down procedures, guidelines and documentation.

The GST Council will discuss the rules on September 30. The government has prescribed a largely online process for registration and laid down strict timelines for completing the process. "We intend to have these rules approved by GST council in its meeting on 30th September. So that business systems can be modified by all," Revenue secretary Hasmukh Adhia tweeted.

"It's encouraging to see that the rules largely envisage electronic interactions between the tax authorities and industry, with only need-based physical intervention (like verification of premises on the application filed for registration)," said Pratik Jain, Leader - Indirect Tax, PwC India. "Further, all the PAN details are to be verified online with the CBDT database, which is expected to bring larger part of the business in the mainstream."

Much of this had already been explained through the FAQs issued by the finance ministry earlier, giving industry an advance peak into the details. Rules provide for complete electronic payment of tax and adjustment of credit and a unique ID number will be generated by the common portal for GST transactions for every debit or credit transaction. This will ensure a proper audit trail.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Outsourcing Test Solutions Software Testing Software Bug Testing Software Issues Tracking Software Issue Fix Software Code Optimization Database Design Optimization

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