GST Bills may be introduced in Lok Sabha on Monday
Posted Date : 25-Mar-2017 , 10:10:35 am | Posted By CASANSAAR
The government is likely to table the four legislations for implementation of the goods and services tax in the Lok Sabha on Monday.
The Union Cabinet already cleared the four supplementary GST legislations -- CGST, IGST, UTGST and Compensation Law -- for introduction and passage in the ongoing s...
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GST Bills to be introduced in Parliament next week - FM
Posted Date : 24-Mar-2017 , 09:02:44 am | Posted By CASANSAAR
Finance Minister Arun Jaitley today said supporting legislations for implementation of goods and services tax will be introduced in Parliament next week.
The finance minister maintained that GST is likely to be rolled out from July 1.
Jaitley said there is long procedure before the Bills are i...
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Cabinet approves Amendment of in the Customs and Excise Act to facilitate implementation of GST Regime
Posted Date : 23-Mar-2017 , 09:08:24 am | Posted By CASANSAAR
Cabinet approves Amendment of in the Customs and Excise Act, relating to abolition of cesses and surcharges on various goods and services to facilitate implementation of GST Regime
Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the following ...
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Union Cabinet approves draft GST Bills
Posted Date : 20-Mar-2017 , 12:21:21 pm | Posted By CASANSAAR
The Cabinet on Monday cleared four supporting GST legislations, paving the way for their introduction in Parliament as early as today.
The four supporting legislations — the Compensation Law, the Central-GST (C-GST), Integrated-GST (I-GST) and Union Territory-GST (UT-GST) — would be i...
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Cabinet may consider GST supplementary legislations on Monday
Posted Date : 19-Mar-2017 , 07:35:23 pm | Posted By CASANSAAR
The Cabinet on Monday may take up for approval the supporting GST legislations, which will then be introduced in Parliament as the government sprints to meet the July 1 target date for rollout of the new indirect tax regime.
A set of four supporting legislations -- the Compensation Law, the Centr...
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GST Council clears all five draft laws for unified indirect tax
Posted Date : 17-Mar-2017 , 08:04:17 am | Posted By CASANSAAR
After 12 meetings over the last six months, the Goods and Services Tax (GST) Council, which is represented by Union ministers and officials and state finance ministries, on Thursday finally gave its nod to all the five draft legislations needed for implementation of the unified indirect tax.
This...
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Agriculturists, small traders exempt from registering under GST
Posted Date : 04-Mar-2017 , 10:04:58 pm | Posted By CASANSAAR
The Centre and states have decided to exempt agriculturists from registering under the Goods and Services Tax regime, while the threshold for traders has been set at Rs 20 lakh turnover.
The GST Council has also empowered commissioner-level officers to allow payment of GST levy by a taxpayer in i...
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GST Council approves final draft of Central GST, Integrated GST laws
Posted Date : 04-Mar-2017 , 10:02:47 pm | Posted By CASANSAAR
The GST Council today approved the final draft of Central GST and Integrated GST laws in its meeting headed by Finance Minister Arun Jaitley in New Delhi.
Briefing media in New Delhi, Mr Jaitley said, the UT-GST and SGST laws will be approved in the next meeting on 16th of this month.
The comp...
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GST Council to meet today to finalise supplementary legislations
Posted Date : 04-Mar-2017 , 07:36:53 am | Posted By CASANSAAR
The GST Council will meet today to finalise supplementary legislations during the second part of budget session of parliament, which will resume next week, so that the new regime is rolled out from 1st of July. This will be the 11th meeting of the Council, which comprises the Union finance Minister ...
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Model GST Bill to go for 20% peak tax, slabs intact for now
Posted Date : 02-Mar-2017 , 07:18:34 pm | Posted By CASANSAAR
The GST Council has proposed to raise the peak tax rate to 20 per cent, from the current 14 per cent, in the model goods and services tax Bill to preclude the requirement of approaching Parliament for any change in rates in future.
The change in the peak rate will not alter the 4-slab rate ...
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DGFT wants GST Council to create an e-wallet facility to ease exporters fears
Posted Date : 27-Feb-2017 , 07:48:16 am | Posted By CASANSAAR
Showing allegiance to exporters who fear that the proposed policy of tax refunds — as opposed to exemptions — for exports under the Goods and Services Tax (GST) regime will jack up their capital costs, the Director General of Foreign Trade (DGFT) has written to the GST Council, saying th...
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CBEC launches app to provide updates to taxpayers on GST
Posted Date : 23-Feb-2017 , 10:34:03 pm | Posted By CASANSAAR
In step with the Government’s Digital India initiative, the Central Board of Excise and Customs (CBEC) has launched a mobile application for Goods and Services Tax.
Taxpayers can readily access a host of GST informatio...
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Government extends deadline for registering on GST portal
Posted Date : 21-Feb-2017 , 07:17:42 am | Posted By CASANSAAR
About1.85 lakh dealers out of the 3.53 lakh registered with the VAT department have enrolled on the GST portal from December 16 till date. The Delhi government is now preparing to bring out an advertisement to announce extension of the deadline for enrolment till March 15. The earlier deadline was D...
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GST Council clears compensation Bill
Posted Date : 19-Feb-2017 , 08:24:47 pm | Posted By CASANSAAR
The goods and services tax (GST) Council on Saturday formally approved a Bill for compensating the state governments for any revenue loss they might have to suffer in the first five years in the GST regime, as the constitutionally empowered body entered the last lap of its key legislative business. ...
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GST governing council meets in Udaipur to give approval to GST Draft Law
Posted Date : 18-Feb-2017 , 08:25:26 am | Posted By CASANSAAR
Goods and Services Tax (GST) governing council will meet in Udaipur, Rajasthan today to give approval to GST Draft Law.
Union Finance Minister Arun Jaitley will chair the meeing which will be attended by Finance Ministers of various states. AIR correspondent reports that the main agenda for...
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Differentiated tax in GST good for beverages sector
Posted Date : 12-Feb-2017 , 06:33:00 pm | Posted By CASANSAAR
Amid proposal to impose higher taxes on aerated drinks in the upcoming GST, beverages major Coca-Cola India says it will be beneficial for the sector if the government differentiates products within new indirect tax regime based on sugar/calorie content to promote public health.
The Atlanta-headq...
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GSTN rejects CAG’s request to name Auditor, do an extra Audit
Posted Date : 10-Feb-2017 , 08:02:56 am | Posted By CASANSAAR
GSTN (Goods and Services Tax Network), a private limited company set up in 2013 for providing IT infrastructure to all stakeholders for the implementation of the Goods and Services Tax, has rejected a request from the Comptroller and Auditor General (CAG) to appoint an auditor as well as to conduct ...
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Hope to take GST legislations to Parliament this session - FM
Posted Date : 03-Feb-2017 , 10:20:58 pm | Posted By CASANSAAR
Keen to rollout the Goods and Services Tax by July, the government plans to take the supporting legislations to Parliament next month, Finance Minister Arun Jaitley said today.
While the all-powerful GST Council has already decided on a four-slab tax structure for the indirect tax regime, the lev...
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GST Council has finalised its recommendations on almost all the issues based on consensus - FM
Posted Date : 01-Feb-2017 , 02:02:53 pm | Posted By CASANSAAR
The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley while presenting the General Budget 2017-18 in Parliament today said that the GST Council has finalised its recommendations on almost all the issues based on consensus after spirited debate and discussions. The Finance Mini...
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GST protest - 70K tax officers to wear black bands
Posted Date : 30-Jan-2017 , 08:00:41 am | Posted By CASANSAAR
About 70,000 tax officers and employees in the country will wear black bands at work tomorrow, on Martyrs Day, to protest some recent decisions taken by the GST Council headed by Finance Minister Arun Jaitley.
The associations representing them said the decisions are heavily tilted towards the st...
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Centre, states reach consensus on GST; rollout from July 1
Posted Date : 16-Jan-2017 , 11:26:04 pm | Posted By CASANSAAR
In a significant breakthrough in implementation of India's biggest tax reform, the deadlock over administration of GST ended on Monday after the Centre agreed to allow states control over most of small taxpayers, but the rollout date was pushed back by 3 months to July 1.
The split of G...
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GST Council to meet on dual control on Monday
Posted Date : 16-Jan-2017 , 09:27:26 am | Posted By CASANSAAR
In a make-or-break meeting, the Centre and States will try and resolve the pending issues around the Goods and Services Tax (GST) on Monday to ensure its timely roll out from April 1.
The GST Council will try to reach a compromise on administrative control over businesses.
“If States get...
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Excise, service taxpayers to migrate to GST portal by January 31
Posted Date : 10-Jan-2017 , 09:05:37 am | Posted By CASANSAAR
Keen to ensure roll out of goods and services tax from April 1, 2017, the Central Board of Excise and Customs (CBEC) has begun migration of its existing excise duty and service tax assesses to the new regime.
"All existing central excise/service tax assesses are requested to migrate as...
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Helpdesk for Migration of existing Central Excise/Service Tax assessees to GST
Posted Date : 09-Jan-2017 , 09:53:28 pm | Posted By CASANSAAR
To ensure implementation of GST by 1st April, 2017, Central Board of Excise & Customs (CBEC) has initiated the process of migration of its existing Central Excise/Service Tax assessees to GST from today. A 24x7 Helpdesk (Through Toll-Free number and Email) started for the purpose. ...
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GST - PAN card must for excise, service taxpayers to migrate to new tax regime
Posted Date : 09-Jan-2017 , 07:48:55 am | Posted By CASANSAAR
The tax department has made it mandatory for central excise duty and service taxpayers to obtain a valid PAN number before they can be migrated to the new goods and services tax (GST) set-up.
Despite the political impasse putting a question mark on the planned rollout of the new tax regime from 1...
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Tax refund to exporters under GST within seven days- Com Min
Posted Date : 05-Jan-2017 , 10:36:13 pm | Posted By CASANSAAR
The Department of Revenue has promised to refund tax claims of exporters within seven days under the new GST regime, thus addressing a major concern of the sector, Commerce and Industry Minister Nirmala Sitharaman said today.
The minister also said that exporters would get interest on the refund ...
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TN Govt asks traders to register in GSTN portal
Posted Date : 05-Jan-2017 , 10:33:54 pm | Posted By CASANSAAR
With the Centre keen on implementing the ambitious Goods and Services Tax across the country, Tamil Nadu government today asked traders to register in the website created by the Goods and Services Tax Network (GSTN).
GSTN has set up www.gst.gov.in and those registered traders should registe...
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GST deadlock continues over dual control, high sea taxes
Posted Date : 04-Jan-2017 , 08:33:48 pm | Posted By CASANSAAR
The deadlock over the Goods and Services Tax (GST) continued on Wednesday as Centre and States refused to budge from their respective positions on the issues including control of taxpayers and taxing high sea trade.
Stating that the Goods and Services Tax (GST) Council was racing against time on ...
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GST - States demand tax on high sea sales, higher compensation
Posted Date : 03-Jan-2017 , 10:23:15 pm | Posted By CASANSAAR
In fresh roadblocks to GST rollout, states today demanded taxation rights for sales in high seas and also increasing the number of items on which cess is to be levied to compensate the states to deal with revenue loss estimated at Rs 90,000 crore post demonetisation.
Initially a Rs 55,000 crore G...
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GST delayed, rollout now likely on 1 June
Posted Date : 02-Jan-2017 , 08:34:17 am | Posted By CASANSAAR
The rollout of the goods and services tax (GST) is likely to be delayed by two or three months, according to two people familiar with the situation.
The government is yet to lock down a date, but is likely to settle for either 1 June or 1 July, the people said on condition of anonymity.
Expect...
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