Search results for: gst council

Central Board of Excise and Customs (CBEC) has alone emerged out of nowhere to oppose government’s decision to bring states in the place of the centre to assess the taxpayers in the ratio of 90 percent which in the terms of central employees will drop down the revenue generation garnered by the central authorities previously.

Finally, GST can see its day of light after the ministry and GST council has again set their meeting to discuss a crucial matter along the line today at Delhi. Finance Minister Arun Jaitley will hope to break the halt over dispersion of forces amongst center and states to regulate GST

The Goods and Service Tax has been in the box of discussion for a long time and in this direction, the eighth GST meeting has been started for conducting a round of think patterns supporting any solution to the matter.

The GST Council will hold a 2-day meeting, starting from today to figure out the argumentative issue of dual control between the central and state government. Notedly, this is the 8th council meeting since the foundation.

The GST council two-day meeting has cleared most of the GST bills of a model law on Thursday itself, as the union finance minister and state representative are part of the council and having a single focus on this new tax regime. Still, there is a hook stuck on the matter of dual control of assessees in the line but the representatives of states and union head is making a gesture to sort out this one too.

The Goods and Services Tax (GST) Council will start its two-day meeting in New Delhi today to consider the model laws and solve out contrasts on the issue of duty over assessees in the new direct expense administration.

A top authority mentioned that the GST Council might choose to diminish the assessment slabs under the Goods and Services Tax administration in the wake of investigating the income accumulated and the remuneration payouts to states. With industry requesting for bringing down of proposed GST rates of 5 , 12 , 18 and 28 percent post the demonetization, CBEC Chairman Najib Shah said the Centre and the states at present gather Rs 8 lakh crore from indirect charges, fewer custom duties, and a similar level of income must be gathered in the GST administration.

The GST Council at its two-day meeting starting today will state over the issue of taxation over assessees and draft model laws for execution of the new GST administration from April 1 next year.

The Government has given a serious concern over the GST and its upcoming benefits to the consumers, and it has also been doing some homework with its top officials at GST council. The government is watching through all the aspects of implementing GST and here it also arose again on the verge of completion.