Half of states expected to ratify GST by early September
Posted Date : 29-Aug-2016 , 07:56:34 am | Posted By CASANSAAR
The Constitution amendment bill to roll out goods and services tax (GST) is expected to receive nod of about 50 percent of states by early September.
Expecting this, Centre is working over issues such as fixation of rates in order to roll out the much awaited GST Bill by April, as per a report in...
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Govt may advance Parliament session to get GST laws approved
Posted Date : 28-Aug-2016 , 06:29:54 pm | Posted By CASANSAAR
Eager to meet the April 1 target to roll out the landmark Goods and Services Tax (GST), the government may advance Winter Session of Parliament by a fortnight to get supporting legislations passed, leaving sufficient time for implementation of the new indirect tax regime.
Winter Session of Parlia...
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West Bengal government unlists GST debate in special session
Posted Date : 27-Aug-2016 , 05:11:07 pm | Posted By CASANSAAR
The West Bengal government has postponed a House debate on the GST bill indefinitely. According to a Trinamool Congress functionary, the debate scheduled for August 29, before passing the legislation, was deferred after the Centre's notification to monitor state treasuries was issued.
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Nagaland Assembly ratifies GST
Posted Date : 26-Aug-2016 , 11:01:34 pm | Posted By CASANSAAR
The Nagaland Legislative Assembly today ratified the Goods and Service Tax (GST) Constitution Amendment Bill.
The bill was endorsed by the House by a voice vote following a brief discussion.
Introducing the bill, Minister for Parliamentary Affairs Kiyanilie Peseyie&n...
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Delhi Assembly ratifies "big reform" GST bill
Posted Date : 25-Aug-2016 , 10:14:27 am | Posted By CASANSAAR
The Delhi Legislative Assembly on Wednesday passed a resolution to ratify the Constitution (122nd Amendment) Bill or the Goods and Services Tax Bill passed by the Parliament. Deputy Chief Minister Manish Sisodia who moved the resolution in the Assembly said, “We think the GST Bill is...
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Madhya Pradesh Passes GST Bill, Seventh State To Do So
Posted Date : 24-Aug-2016 , 06:12:43 pm | Posted By CASANSAAR
A special one-day sitting of the state legislative assembly was convened for ratification of the GST Bill.
The Madhya Pradesh Assembly on Wednesday passed the Goods and Services Tax (GST) Amendment Bill.
A special one-day sitting of the state legislative assembly was convened for ratification ...
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Gujarat becomes 6th State to ratify GST Bill
Posted Date : 24-Aug-2016 , 08:55:01 am | Posted By CASANSAAR
The Gujarat State Assembly on Tuesday ratified the Goods and Services Tax (GST) Constitution Amendment Bill in the absence of the Opposition party Congress.
It has become the sixth State to pass the Bill, which requires ratification from at least 15 state legislatures before the President notifies ...
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Himachal Pradesh Assembly Becomes Fourth State To Ratify GTS Bill
Posted Date : 22-Aug-2016 , 06:01:57 pm | Posted By CASANSAAR
Himachal Pradesh assembly became the fourth state after Bihar, Jharkhand and Assam to ratify the GST Bill.
The Himachal Pradesh Assembly Monday ratified the landmark constitutional bill for the roll out of the Goods and Services Tax (GST), which was passed by the Parliament earlier this month. Th...
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Government delves into etailers’ concerns on GST
Posted Date : 22-Aug-2016 , 12:45:21 pm | Posted By CASANSAAR
The government is looking into the biggest concern of online retailers with the goods and services tax (GST) — rules relating to returned goods that have at times even reached as high as half their sales.
The draft GST law does not provide for credit on tax paid on returned goods, pot...
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GST bill will be tabled in Delhi Assembly during four-day session
Posted Date : 19-Aug-2016 , 10:56:54 pm | Posted By CASANSAAR
The AAP government on Friday said that it will place the GST Bill for ratification before the Delhi Assembly during its four-day session beginning August 22 if it receives official communication about the Bill from the Centre.
Apart from Goods and Services Tax (GST), the Kejriwal government will ...
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Jharkhand ratifies Constitutional Amendment bill on GST
Posted Date : 17-Aug-2016 , 09:01:30 pm | Posted By CASANSAAR
Jharkhand Assembly voted unanimously to ratify the Goods and Services Tax, GST Bill. With this Jharkhand has become the third state after Assam and Bihar to ratify the GST Bill passed by the Parliament.
AIR Correspondent reports that the proposal was introduced in the assembly by state Minister S...
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Bihar, Gujarat convene assembly sessions to ratify GST Bill
Posted Date : 13-Aug-2016 , 10:28:55 pm | Posted By CASANSAAR
The special session of Bihar Assembly will be held on 16th of this month to pass the Goods and Services Tax, GST Bill. The state cabinet has taken decision in this regard this evening. Chief Minister Nitish kumar chaired the meeting. The session will be for one day only.
It may be noted that both...
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Modi govt asks state govts to ratify GST bill
Posted Date : 13-Aug-2016 , 06:11:40 pm | Posted By CASANSAAR
The NDA government today asked the State governments to ratify the GST bill in their respective Assemblies to enable early implementation of the legislation.
Speaking at a BJP party function in Bengaluru, Parliamentary Affairs Minister Anant Kumar congratulated Assam for becoming the first ...
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Assam becomes the first state in the country to pass the GST Bill
Posted Date : 12-Aug-2016 , 02:35:21 pm | Posted By CASANSAAR
Finance Minister of Assam Himanta Biswa Sarma tweeted on Friday morning that Assam has become the first state to ratify the Goods and Services Tax (GST) constitution amendment Bill. It was the last day of Assam’s ongoing legislative assembly session, its...
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GST Network to start collecting traders’ data for issuing tax IDs
Posted Date : 12-Aug-2016 , 07:32:35 am | Posted By CASANSAAR
The network that forms the information technology backbone of the goods and services tax (GST) will start a nationwide drive, in collaboration with state governments, to collect information on around eight million traders and issue them tax identification numbers (TIN) as India prepares to implement...
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GST rate should not be more than 18% - ICSI
Posted Date : 11-Aug-2016 , 10:12:01 pm | Posted By CASANSAAR
The Institute of Company Secretaries of India (ICSI) today said the GST rate should not be more than 18 per cent, otherwise it will cause rise in inflation.
"If RNR is 19 per cent or more, then we may have inflation in near term. We feel that the ideal RNR rate for GST should be 18 per cent ...
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Constitutional amendments on GST Bill made by RS, rectified by LS unanimously
Posted Date : 08-Aug-2016 , 08:23:43 pm | Posted By CASANSAAR
Lok Sabha, on Monday, unanimously passed the 122nd Constitutional Amendment Bill as amended by the Rajya Sabha with all 443 members voting in favour.
AIADMK leader P.Venugopal led a walk out of party MPs after the party was not satisfied with Finance Minister Arun Jaitley's clarifications o...
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Govt may have to amend SEZ Act to align it with GST
Posted Date : 07-Aug-2016 , 01:29:09 pm | Posted By CASANSAAR
The government may have to amend the SEZ Act 2005 to align it with the Goods and Services Tax (GST) law so that central excise and service tax benefits can be extended to developers and entrepreneurs.
The Commerce Ministry is in the process of preparing a note on the changes required in the Speci...
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GST bill in LS likely on Monday, BJP issues whip
Posted Date : 05-Aug-2016 , 01:45:57 pm | Posted By CASANSAAR
The GST Bill, which was passed by the Rajya Sabha on Wednesday, is likely to be tabled in the Lok Sabha on August 8 for which the BJP has issued a whip to its members in the Lower House to ensure its smooth passage.
The whip issued by the ruling party today has asked its members to be present in ...
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Govt aims to roll out GST from April 1 next year
Posted Date : 04-Aug-2016 , 07:31:58 pm | Posted By CASANSAAR
The Government has set the target of 1st April next year for roll out of the Goods and Services Tax, GST.
Addressing a press conference in New Delhi, Finance Minister Arun Jaitley today unveiled a detailed road map for GST implementation.
He said that government is aiming for an optimal ...
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Frequently Asked Questions (FAQs) on Goods and Services Tax (GST)
Posted Date : 04-Aug-2016 , 07:19:59 am | Posted By CASANSAAR
Following are the answers to the various frequently asked questions relating to GST:
Question 1.What is GST? How does it work?
Answer: GST is one indirect tax for the whole nation, which will make India one unified common market.
GST is a single tax on the supply of goods and serv...
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India’s biggest tax reform measure, GST Bill passed in Rajya Sabha
Posted Date : 03-Aug-2016 , 09:29:53 pm | Posted By CASANSAAR
After an over seven hour-long debate, the Rajya Sabha today passed the long-pending Goods and Services Tax (GST) which is being described as the country's most transformative tax reform in decades. Barring All India Anna Dravida Munnetra Kazhagam (AIADMK) most other parties supported t...
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GST Bill amendments circulated, RS to take it up tomorrow
Posted Date : 02-Aug-2016 , 07:36:56 pm | Posted By CASANSAAR
The government has circulated official amendments to the GST bill to drop 1 per cent additional tax and include a definite provision in the statute for compensating states for revenue loss for 5 years as it gears up to discuss the long-pending bill in the Rajya Sabha tomorrow.
Under the modified ...
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Govt lists GST bill in Rajya Sabha for Wednesday
Posted Date : 01-Aug-2016 , 09:48:39 pm | Posted By CASANSAAR
The long-pending GST Bill was today listed for consideration and passage in Rajya Sabha on Wednesday amidst strong indications that the most far-reaching taxation reform in independent India would be supported by Congress and all other major political parties.
The Goods and Services Tax (GST) Bil...
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Union Cabinet clears amendments in GST Bill
Posted Date : 27-Jul-2016 , 09:47:58 pm | Posted By CASANSAAR
Union Cabinet today approved amendment in Goods and Services Tax Bill and dropped one percent additional tax on inter-state sales as proposed in the current bill.
Sources said, the Cabinet also agreed to include the mechanism of compensating states for all loss of revenue for five years in the bi...
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Centre, states make headway on key GST issues
Posted Date : 26-Jul-2016 , 10:41:56 pm | Posted By CASANSAAR
Making headway on the long- pending GST Bill, the Centre and States today agreed on the principle that the tax rate will be lower than the current levels even as the broad consensus emerged that the rate should not be part of the statute.
A meeting of the Empowered Committee of State Finance Mini...
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ICAI Convocation 2016 Programme Schedule
Posted Date : 21-Jul-2016 , 07:57:22 am | Posted By CASANSAAR
In order to promote a sense of comradeship among members and for bringing them closer to the Institute, the Institute of Chartered Accountants of India (ICAI) organize Convocations for distributing certificates to the newly qualified members. In fact, this is an occasion to mark the entry of the new...
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All states support GST, barring Tamil Nadu - FM
Posted Date : 15-Jun-2016 , 07:55:47 am | Posted By CASANSAAR
Virtually all states have supported the idea of GST except the southeastern Indian state of Tamil Nadu which has "some reservations", the Indian Finance minister Arun Jaitley said on Tuesday after a meeting of Empowered Committee of state FMs on the long awaited indirect tax reform.
He ...
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All online purchases to attract GST, says law
Posted Date : 15-Jun-2016 , 07:53:29 am | Posted By CASANSAAR
All purchases made online will attract a uniform Goods and Services Tax, likely to take effect from April next year, according to the model Goods and Services Tax (GST) law approved by state finance ministers on Tuesday.
The tax, in lieu of local levies, will be imposed at the first point of fina...
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State FMs to meet this week to discuss model GST law
Posted Date : 15-Jun-2016 , 07:52:38 am | Posted By CASANSAAR
Amid hopes of long pending GST bill getting passed in Rajya Sabha in the next Parliament session, state finance ministers will deliberate on the model GST law at a two-day meeting in Kolkata beginning Tuesday.
Finance Minister Arun Jaitley will participate in the meeting of Empowered Committee of...
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