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Goods and GST Bill passed, Goods and Services Tax - GST |
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Goods and GST Bill passed |
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Dear All, GST Bill is passed in Rajya Sabha on 03. 08.2016. A panel under chief economic adviser Arvind Subramanian has recommended a revenue-neutral rate of 15-15.5%, with a standard rate of 17-18% be levied on most goods and all services. But, there has been no agreement yet on rates of various goods and services, which remains a tricky issue. According to the Bill, passed in the Lok Sabha in May 2015, the rates were to be decided by a GST council headed by the central finance minister with state finance ministers as members. Let us wait. Thanks. Posts / Replies Showing Replies 551 to 575 of 1401 Records Page: 1 ....192021222324252627........ 57
FM says that all steps necessary for preparedness to move to GST are as per target including IT system, and that the CBEC is working extensively to reach out to trade and industry from 1st April providing positive trigger towards readiness to GST.
GST council is going to meet on 18th February.
The rate of GST product wise is expected to analyse the impact on there working capital and on business.
Compliances are going to be a big concern for big industries having huge transaction and having many branches. It is also going to be a big concern for service industries. Untill now they have single centralized registration for service tax. Under GST they would require to enrol in every state where they have operation.
FM said that no major changes in current indirect tax regime of central excise, customs and service tax is made as anyway these taxes is going to subsume in GST.
Draft GST laws due in second half of Budget session: FM Jaitley
Allied GST laws coming up.
India should start with a uniform low rate GST.
Union Budget: Encouraging to see govt committed to GST in 2017 It was great to see that Arun Jaitley preferred to avoid making changes in the current excise and service tax regime since GST is around the corner
‘With GST roll-out, we are cautious of indirect tax forecast for FY18. - Revenue Secretary
Services are likely to be taxed at a single rate, except some like transport: Revenue Secretary
Five Indians charged on GST fraud claims in Singapore .
Scope of black money generation will be difficult once GST is implemented: Arun Jaitley
Govt may table GST draft Bills in House next month Next council meet on Feb 18 | Rates may be decided in May or June
GST migration Seva Kendra opened
GST To Smoothen Taxation, Bring In Transparency: Experts At an interactive awareness programme for start-ups, the experts said the government is expected to resolve the queries of entrepreneurs regarding GST.
GST roll out next fiscal: Is the govt looking at changing the financial year?
GST decisions under states' pressure, reverse them: IRS
Vehicle scrap policy to go to GST Council post Cabinet nod: Gadkari V-VMP policy to push 28 million decade-old vehicles off the roads
Smartphone buyers beware: GST may lead to 25% hike in prices CyberMedia Research estimates that with imposition of goods and services tax (GST), the price of smartphone handsets would increase by around 25 percent.
Many issues need to be resolved to make ideal GST: Amit Mitra
‘GST to simplify tax structure, boost revenue mop up’
All cesses, barring petroleum, to be merged in GST: Hasmukh Adhia It was decided that even though all other cesses would be subsumed in the GST, the Centre would continue to levy clean environment cess on coal, peat and lignite.
IT and technology companies want relaxation of manufacturing norms as GST approaches.
GST: CBEC officials oppose ceding taxpayer base to states Over 50,000 officers are planning to protest on 30 January against the decision which they estimate will leave as many as 40% of CBEC employees without work. Old Query - New Comments are closed. |
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