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TMI BlogQUERRY REGARDING GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... QUERRY REGARDING GST X X X X Extracts X X X X X X X X Extracts X X X X ..... Ashok, Do not worry on things which are not in existence at present scenario. Government is working on this aspect to get it pass in Rajya Sabha and if passed in this financial year, then, there would a paradigm shift in Indirect Taxation and would also give boost to our country's economy/GDP between 1% to 2%. However, the double entry system and accounting principles would not be disturbed. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... So cheer up Man! Regards, YAGAY and SUN (Management, Business and Indirect Tax Consultants) Reply By KASTURI SETHI: The Reply: Dear Ashok Amin Ji, There will be whole-sale change in maintenance of records for manufacturing units. Since tax/duty will be on supply of goods or service, trading and manufacturing can take place in the same premises. "Supply" will be defined anew under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... GST. Wait for definition of "SUPPLY" which will be clear only after enactment of GST bill. Reply By ASHOK AMIN: The Reply: Thank You Sir ji Reply By ASHOK AMIN: The Reply: Dear Sirs, Can i get any further updates in this discussion forum. I am very much eager to know. Reply By KASTURI SETHI: The Reply: Yes. You can. You may ask any question but still GST has not been finalized.It ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is subject to so many changes. You will have to wait for. Reply By ASHOK AMIN: The Reply: Dear Sir, Ok. Noted. Thanks. Reply By Ganeshan Kalyani: The Reply: The Empowered Committee has released Draft on registration, return, payment and refund. However these are draft and it will keep changing until it is finalized. Reply By KASTURI SETHI: The Reply: Sh.Ganeshan Kalyani Ji, You are right ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , Sir. Draft GST will keep changing as now BJP has opened Pandora's box which has stalled the proceedings in Rajya Sabha. Now chances for passage of GST bill in Rajya Sabha are slim. GST Bill will be in doldrums. The winter session in Parliament ends on 23.12.15. Only 10 days have left. They should have opened Pandora's box after 23.12 2015 i.e. after the passage of GST bill. Reply By Gan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eshan Kalyani: The Reply: Yes sir the Modi Government has promised April 2016 to be the date for roll out day of GST. If they did not succeed in getting the bill passed in this session then the set date will be missed. The opposition are making noise like the way present government did when they were in opposition. However in politics no one bet any challenge. Thus as an assesses we should we read ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y to accept the new act / rule whenever the date of implementation is declared. Reply By Samir Banerjee: The Reply: I am not making any political comments, but it is irony everything becomes political. I don't know why there is a feeling is present government is really serious about GST or they are trying intentionally to create obstacle with gloves in hand with previous government to delay ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this historical step of GST. There might be some gray or concern areas which both the previous and existing government aware that could be one of the reason to delay the GST mechanism. If seriously some hidden issues, that will invariably be a biggest jolt on development. Reply By Ganeshan Kalyani: The Reply: 3 days left for winter session to conclude. Reply By KASTURI SETHI: The Reply: No chan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce for passage of GST by Rajya Sabha. Now possible date is 1.7.16. It was in the news.
Reply By Ganeshan Kalyani:
The Reply: Then the implementation seems to be possible only by 2017. X X X X Extracts X X X X X X X X Extracts X X X X
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