Introduction- “Sincere” is the word when combined with the word “Effort” makes the road to success as smooth and reliable. Such sincere efforts are being made by the Central Government for paving the path to Good and Services Tax (GST). The government with the aim to implement the GST w.e.f. 1.4.2016 has issued a draft … Read more
The draft business processes on GST registration, GST refunds and GST payments have been put-up on https://mygov.in/group/department-revenue/ for inviting comments. Comments and views are invited on these business processes by 31st October, 2015. The draft Model CGST, SGST and IGST laws, along with GST business processes for filing of returns, shall also be put-up for inviting comments of stakeholders … Read more
Goods and Services Tax (GST), the 122nd Constitutional Amendment Bill, 2014 tabled by Finance Minister Arun Jaitley has already passed in the Lok Sabha. However, due to conflicts between the States and Centre and the reason that the Centre is not having majority in Rajya Sabha; GST bill is lying on the tables of Rajya … Read more
Introduction- Already so controversial bill of Goods and Service Tax (GST) had another controversy attached to it when The Empowered Committee (EC) of State Finance Ministers decided to incorporate Goods and Services Tax Network (GSTN), a Section 25 (not-for-profit), non-Government, Private Limited Company to provide IT infrastructure for implementation of GST. The main objective associated … Read more
For Departmental Officers only Introduction The introduction of Goods and Services Tax (GST) would be a very significant step in the field of indirect tax reforms in India. By amalgamating a large number of Central and State taxes into a single tax, it would mitigate cascading or double taxation in a major way and … Read more
F. No. A 11013/18/2015.Ad.IV Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs ***** New Delhi, the 27th August, 2015 ORDER No. 05/Ad.IV/2015 Subject: Terms of Reference of the GST -Policy Wing in CBEC and the Directorate of GST. After the formation of the GST Directorate … Read more
Most of the States to benefit from GST from day one; Provisions have been Made in the Constitution Amendment Bill on GST to Ensure that none of the States Lose any Revenue after the Implementation of the GST: FM The Union Finance Minister, Shri Arun Jaitley said that Goods and Services Tax (GST) will benefit … Read more
New Article 246a Proposed to Confer Simultaneous Power to Union and State Legislatures to Legislate on GST ; Centre To Compensate States for Loss of Revenue Arising on Account of Implementation of the GST for a period up to Five Years The Union Cabinet approved on 17th December,2014 the proposal for introduction of a Bill … Read more
Press Information Bureau Government of IndiaMinistry of Finance 28-November-2014 17:39 IST Implementation of Goods and Service Tax (GST) The latest India Development Update of the World Bank published in October 2014 has mentioned that the implementation of the Goods and Service Tax (GST), combined with dismantling of inter-state check-posts, is the most crucial reform that could … Read more
Press Information Bureau Government of IndiaMinistry of Finance 17-November-2014 16:56 IST Economic Reforms Inclduing GST and Insurance Amendment Bill are on the Anvil: FM; Calls for Large Investment from Domestic and International Investors in Infrastructure Sector The Union Finance Minister Shri Arun Jaitley said that the Government has taken series of measures to tackle various challenges … Read more