GST-Part A-First Discussion Paper

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..... GST-Part A-First Discussion Paper
By: - Deepak Aggarwal
Goods and Services Tax - GST
Dated:- 5-2-2015

GST……Goods and Services Tax Part-A First Discussion Paper on GST * GST comes in picture when in Central Budget 2007-08, Union Finance Minister made an announcement that GST will be introduced from 1st April, 2008. * The task given to Empowered Committee of State .....

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..... Finance Ministers to make a road map for GST in consultation with Central Government. * The Empowered Committee decided to setup a Joint Working Group in May, 2007. * The Joint Working Group submits its report on GST in Nov.2007. * The report submitted by Joint Working Group was discussed in detail and a final version of the views on GST of Empowered Committee was sent to the Government of .....

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..... India in April, 2008. * The comments of Government of India on the same is received and duly considered by Empowered Committee in Dec.2008. * A Committee was formed to consider the comments of Government of India. * The Committee submitted its views on the same and was accepted in principle by the Empowered Committee in Jan, 2009. * A Working Group was formed to submit their recommendation .....

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..... s in detail on the structure of GST in close association with the Government of India. * A discussion was made in between Union Finance Minister and the Empowered Committee on compensation for loss of the states on account of phasing out of CST in Oct.2009. * The Empowered Committee after taking recommendations of Working group and other related matters, presents a detailed view on structure o .....

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..... f GST finally. * This detailed view on structure of GST was presented in the form of First Discussion Paper in Nov. 2009. * The First Discussion Paper has four segments. * First Segment explains a brief reference to the process of introduction of VAT and also areas where needs improvements * Second Segment explains the process of preparation for GST. * Third Segment explains in detail th .....

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..... e comprehensive structure of the GST model. * Fourth Segment has FAQ on GST.
Scholarly articles for knowledge sharing by authors, experts, professionals .....

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