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GST application is proving tons of work and pressure on the government which has to roll out the reformative taxation regime on a pre-decided timeline of 1 April 2017. In the direction of preparation, the revenue department has to scoop up the training session to a steep level as there is a giant target of 60,000 official to be trained in a meager amount of time.
GST structure will need a good number of expert officials and trained staff which can keep the taxation in flow, and in this same direction the state commercial tax department is building a team of experts which can further guide and make ready those officials who would be dealing with the core aspects of Goods and Service Tax regime expected to roll out on April 1, 2017.
The cabinet approved the project SAKSHAM, which is said to be the new indirect tax network (systems integration) of the CBEC.
Cabinet Committee on Economic Affairs (CCEA) has given a relaxing news to the CBEC by sanctioning a good Rs. 2,256 crore to help build them IT structure which will link CBECs system with GST network. The decision is taken to encounter the timeline of 1 April 2017, the roll out of GST.
Central Board of Excise and Customs (CBEC) has given a new draft rule regarding the implication of popular taxation regime GST on Tuesday. The format on GST return and refunds required assessees to file monthly returns and specifying procedure for claiming refunds of taxes, interest, and fees.
GST will be bringing a complex structure with itself by the procedures and a vast network of operation it would run into, however, the government has identified some sorting into the issue and has taken a viewpoint into consideration that all the payments and monetary transactions will be held through online.
A meeting regarding the GST application and its roll out was turned out to ensure that the timeline can be achieved within the framework, in which finance minister Arun Jaitley took a firm decision to establish a ‘war room’ to tackle the oncoming hurdles of GST. The war room establishment is reviewed on the daily […]
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.
In the Cabinet meeting held today, the Union cabinet approved the creation of the GST Council, which will take decisions regarding the fixation of the rate of tax under the GST regime, which will be effective from April 1, 2017.
