Powerd By SAG INFOTECH
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The Goods and Service tax have a long way to go as the hurdles are getting in between for quite some time. The dual control issue is still on the hooks for the union authorities as well as GST council can not decide the ultimate fate of this dual control matter.
CEO of Goods and Services Tax Network (GSTN) has given a warning like instruction to the commissioner of taxes in the wake of final date approaching the closure of windows giving a pertaining facility to all the dealers of VAT to enroll themselves to the GST structure. The date January 10, 2017, is mentioned to be the last date for the registration by Asangba Chuba Ao, the commissioner.
A very complex issue emerged out of nowhere as the government is held to take the territories of the coastal area into their reign. The undertaking of this coastal region is set to be 12 nautical miles from the coast. The decision has seen some discontent from state level officials.
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 Centre for Asia Pacific Aviation (CAPA) stated in its India Aviation Outlook 2017-18 report that, “Although intended to simplify India’s complex tax code, and generally viewed as being positive for the economy in the long term, a higher effective tax rate for economy class air travel could possibly increase fares by 9-12%.”
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.
Despite the fact that the intensity over demonetization is a major consideration still the Opposition response to GST and the way that it must be put off from the first implementation date of April 1, the partition over dual control has been a concerned issue from the earliest starting point.
Indirect taxes have always been contributing more than direct taxes to the Government’s Revenue. Services solely contribute a major part of the whole Gross Domestic Product (GDP), subsequently, it shows the major contribution of Services in taxes also.
Congress pioneer Jairam Ramesh said the party was always speaking with West Bengal Finance Minister Amit Mitra, who is the executive of the empowered committee of state finance ministry. The parties have been in contact with each other and more than a few outstanding issues in regards to the execution of the Goods and Services Tax, in front of a two-day meeting of the GST Council.
