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The GST Council has been inviting more number of states to discuss over GST in order to clear all the doubts and fix the issues before the deadline. The first meeting of GST held on Thursday has decided to hold the predetermined date of the roll out to be 1st April 2017.
The government is in full swing to implement the GST Act by April 2017. A short winter session of Parliament will be held post-Diwali in order to ratify several changes in the Goods and Services Tax (GST) Act
Goods and Service tax, a significant taxation regime which will subsume, various indirect taxes in the nation and has a tentative date of 1 April in coming year to be implemented. And in this direction, the first meeting will be holding today at the national capital. The two-day meeting was already scheduled for Sept. 22-23 […]
The Central Board of Excise and Customs (CBEC) has released an extensive FAQs detailing taxability of e-commerce players and taxi aggregators under the new system. The (FAQ) booklet consists of 268-page frequently asked questions. It has been released by Finance Minister Arun Jaitley, who answered over 500 questions on 24 topics, including scope, valuation, registration, […]
Goods and Service Tax rate have been in very much disguise as there is no exact point on which both state and central government can conclude up. The committee formed by the powered officials which comprised state and central government genre will be looking into the matter.
Mobile phone manufacturers have appealed the finance ministry to continue the differential duty structure and the benefits from it. The phone makers fear about the casualty caused after the implementation of the GST in April 2017.
The GST council will be playing a very significant role in the implementation of the new taxation regime across the country. While carrying important aspects, the council will be responsible for all the major decisions and roll out regarding the taxation structure.
Maharashtra Finance Minister Sudhir Mungantiwar showed his concern about the implementation of the GST in the state and assured that the government would take care of no revenue-loss after the application of GST.
As the Government is preparing to roll-out the GST law by April 2017, the newly formed GST council has started considering some mechanisms in order to assure proper functioning of the GST regime. The govt is considering a price-monitoring mechanism under the goods and services tax (GST) to ensure that the benefits get applied effectively on any unwarranted price shocks. Meanwhile, the states are also showing their interest in the regulations carried away by the council over the GST.
