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MUMBAI: According to one of the largest foreign institutional investors Morgan Stanley, there is a belief that BJP can pass the GST Bill by this July as it has got an ample number of Member of Parliament (MP) to pass the bill.
The GST empowered committee of state finance ministers has selected a name, Dr. Amit Mitra as a new chairman of the committee. He is a West Bengal Finance Minister also. Moreover, the post of chairman was empty since November, 2015 as the Kerala Finance Minister KM Mani had left the post in November due to corruption charges.
What is Direct Tax? These types of taxes are directly paid to the government of India. Government levies a direct charge on the entity or an individual which has to be borne directly by the individual/entity. Direct taxes include several taxes such as income tax, TDS etc. Types of Direct Taxes in India There are […]
The Indian Finance Minister Mr. Arun Jaitley said, the government will roll-out new taxation regime, GST by just making “certainly” double efforts in 2016 and he is in “continuous touch” with opposition party to coax them to cooperate.
The former RBI Governor Mr. C Rangarajan told that the proposed 1 % extra tax on the sales of inter-state is contrary to roll-out the GST in the Parliament. He believes that this additional tax should be removed and not be implemented to the bill.
The chief committee of government, CEA-led has given a suggestion to the Centre to set the Goods and Services Tax (GST) rate around 17-18 Percent. The committee also believes that this rate is suitable for every one and will help to boost the chances of common agreement on the vital reform. This rate meets all requirements of constitutional amendment bill, therefore there are many chances for the bill to be passed in current winter session.
GST Stands for Good and Services Tax that is a vital regime of India. It is the biggest indirect tax reform since independence. It would be levied when a consumer will buy a good and service.
The most important reform will be delayed due to political interruptions as per CFOs of India. According the Yes Bank survey, around three fourths of CFOs have told that the crucial Goods and Services tax might be levied by next fiscal.
