Goods and Services Tax rollout likely to miss April 1 deadline
Posted Date : 29-Nov-2011 , 08:08:49 am | Posted By CASANSAAR
While the issue of FDI in retail has paralyzed the Winter session of Parliament, the Empowered Group of state finance ministers met here on Monday and indicated that the Centre's failure to compensate them on Central Sales Tax (CST) among other pending issues would jeopardize the rolling out of indi...
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GST-N to bring about change in tax system
Posted Date : 03-Nov-2011 , 08:03:59 am | Posted By CASANSAAR
Deputy chief minister Sushil Kumar Modi here on Wednesday told the members of trade and industry at the Bihar Industries Association (BIA) office that the Goods and Services Tax-Network (GST-N) being created under information technology network by a committee headed by&nbs...
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Empowered Committee on GST to meet on Oct 14
Posted Date : 06-Oct-2011 , 03:31:12 pm | Posted By CASANSAAR
The Empowered Committee of State Finance Ministers on GST, headed by Bihar Deputy Chief Minister Sushil Kumar Modi, will meet here on October 14 to discuss issues related to the roll out of the ambitious indirect tax regime. "We will be discussing the GST and the Centr...
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GST: Empowered Committee to decide on rate soon
Posted Date : 19-Sep-2011 , 08:35:58 am | Posted By CASANSAAR
Kerala Finance Minister K. M. Mani said here on Sunday that the Empowered Committee on Goods and Services Tax (GST) would soon decide on whether to go in for one or two rates of GST in the country.
Mr. Mani, who is a member of the Committee comprising of State finance ministers, said in an articl...
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'ICAI studying effects of GST regime'
Posted Date : 10-Sep-2011 , 09:07:16 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) is serious on its role as India prepares to usher in the goods and services tax (GST). Apart from seeking inputs from various users such as traders, commerce organisations and associations, ICAI has also asked its chartered accountant ...
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No deal on GST, state FMs head to study European model
Posted Date : 01-Sep-2011 , 07:25:35 am | Posted By CASANSAAR
It's going to be a tough September for finance departments across the country with finance ministers from around 20 states - despite all of them not agreeing with the proposed Goods and Services Tax (GST) rollout - going to Europe to study the indirect tax regime. On September 7, the 20-od...
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Service tax norms part of GST roadmap
Posted Date : 30-Aug-2011 , 07:30:10 am | Posted By CASANSAAR
The government has prepared a concept note to provide clarity on which services would be taxed and the ones that would be excluded. The move is part of the preparation being made for implementing a comprehensive Goods and Service Tax regime, which will shift the entire indirect tax levy to 16%....
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FICCI seeks speedy implementation of GST to curb problem of black money
Posted Date : 20-Aug-2011 , 10:32:24 pm | Posted By CASANSAAR
Industry body FICCI has sought expeditious implementation of the proposed goods and service tax (GST) saying it could also help curb the cash economy in the country, and hence the problem of black money. "GST is a perfect platform to unearth black money....if somebody has to evade taxes u...
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States FMs panel on GST to meet on Aug 19: Pranab
Posted Date : 03-Aug-2011 , 09:44:03 pm | Posted By CASANSAAR
Empowered Committee of State Finance Ministers on GST, under its new chief Sushil Modi, will meet on August 19 to discuss various issues related with the roll out of the ambitious indirect tax regime.
"The next meeting is on 19th (August). They (panel members) will discuss various issues am...
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Task force on GST to submit report in two weeks: CBEC
Posted Date : 23-Jul-2011 , 10:02:13 pm | Posted By CASANSAAR
The task force on Goods and Service Tax (GST) set up by the finance ministry will submit its report within two weeks, said Central Board of Excise and Customs (CBEC) Chairman S Dutt Majumder on Friday.
“By mid-September, we hope to finalise business rules. A dispute settlement autho...
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Govt to create a new technology platform for GST regime
Posted Date : 22-Jul-2011 , 09:30:08 pm | Posted By CASANSAAR
The government today said it is working on a special IT platform for smooth implementation of the proposed Goods and Services Tax (GST) -- a new regime that will subsume various levies imposed by centre and states.
The IT special purpose vehicle (SPV) christened as GST N (Network) will be o...
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Sushil Modi elected new chief of Empowered Committee on GST
Posted Date : 19-Jul-2011 , 07:06:37 am | Posted By CASANSAAR
In a tactical victory of sorts for Union Finance Minister Pranab Mukherjee, BJP leader and Bihar Deputy Chief Minister Sushil Kumar Modi was on Monday elected Chairman of the Empowered Committee of State Finance Ministers on GST (Goods and Services Tax) in place of the former West Bengal Finance Min...
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GST rates to be between 16-20 per cent: CBEC
Posted Date : 28-Jun-2011 , 03:38:12 am | Posted By CASANSAAR
The Central Board of Excise and Customs (CBEC) on Tuesday said that tax rates under the proposed Goods and Services Tax (GST) regime in India is likely to be between 16 per cent and 20 per cent.
“World over, GST rates are typically between 16 per cent and 20 per cent. In India it is likely ...
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Gujarat not ready for GST implementation: state govt
Posted Date : 26-Mar-2011 , 10:25:26 pm | Posted By CASANSAAR
Though the Goods and Services Tax (GST) bill has been tabled in the Lok Sabha, the Gujarat government today said in the state Assembly that it was not ready to implement it.
Minister of State for Industries, Saurabh Patel, told the House that state government was n...
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Indian govt introduces key tax reform bill
Posted Date : 26-Mar-2011 , 10:17:59 pm | Posted By CASANSAAR
India's government introduced a wide-ranging tax bill into parliament on Tuesday, but opposition to the move threatened to derail one what is one of the coalition's most ambitious reforms of its second term.
In a sign of how corruption scandals are...
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GST: Govt moves ahead, introduces Bill in Lok Sabha
Posted Date : 22-Mar-2011 , 12:18:33 pm | Posted By CASANSAAR
The government today introduced a Constitution Amendment Bill in the Lok Sabha with a view to create a common market for goods and services and replace the existing indirect taxation regime with a uniform Goods and Services Tax (GST) system.
The Bill...
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FinMin secures President's nod for GST Bill
Posted Date : 18-Mar-2011 , 10:33:46 am | Posted By CASANSAAR
The finance ministry on Wednesday moved a step closer to the proposed Goods and Services Tax (GST) by taking the President’s approval for introducing a Constitution Amendment Bill in Parliament. Even as some government departments have raised concerns on the Bill in its p...
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Govt. may bring constitution amendment bill on GST this session
Posted Date : 15-Mar-2011 , 11:34:25 am | Posted By CASANSAAR
The Government today gave green signal to the Constitution Amendment Bill indicating a strong desire to push the Goods and Services Tax, despite lack of consensus among states for implementing the new regime on indirect taxes.
It will try to introduce...
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GST may not be implemented from April 2012: FM
Posted Date : 14-Mar-2011 , 12:30:29 pm | Posted By CASANSAAR
The government today said it may not be possible to roll out the Goods and Services Tax (GST) from April next year, as the proposal needs consent from all the states.
"...the (GST) legislation cannot be voted upon until the ratification is completed.....
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