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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.
The delay is expected to be extended for around two or maybe three months which will certainly give some extra amount of time to the apex bodies for this significant reform. The administration is yet to settle on a date, which is probably going to be either 1 June or 1 July, the general population said on state of secrecy.
The migration of old existing Telangana VAT Dealers has been started. The time period for the migration is 01/01/2017 to 30/04/2017. In upcoming details, we divided Telangana migration process for VAT dealers. In the first step, we explain how to get the provisional Ids. In the second step, we explain that how to convert the […]
The Society of Indian Automobile Manufacturers held meetings with three state governments in recent weeks. The state government of Maharashtra, Gujarat and Karnataka assured the SIAM members that they will stick to their earlier commitments.
Reserve Bank of India (RBI) governor Urjit Patel said that the implementation of the goods and services tax nationwide will provide flexibility to the economy. He further said that the demonetization of higher currency notes will embrace a significant change in long-term. The quotes were mentioned in the Financial Stability Report published by RBI.
The trade and industrial body, in an announcement, witnessed that the Union finance head declared that GST would be authorized all through the nation from April 1, 2017, or within three months from there on. Tamil Nadu Chamber of Commerce and Industry appealed to state commercial taxes division to assist enlisting VAT merchants into the goods and services tax (GST) enrollment.
The latest GST council gatherings have missed the mark regarding desire as the absence of agreement on the issue of tax organization or ‘double control’ implies that April 1, 2017, due date for GST usage looks unachievable.
The talks about GST implementations is increasing as the next financial year is getting closer. As we know this act shall subsume all other indirect taxes like Value added tax, Central sales tax, Service tax, Countervailing duty, Special Countervailing duty, Octroi, Entertainment Tax, Entry Tax, Purchase Tax, Luxury Tax, Advertisement Tax, Taxes applicable on lotteries etc.
Micro, small and medium enterprises (MSMEs) sector is much awaited to welcome the all mighty goods and service tax and also being in dilemma after what will be consequences of the same. The issues regarding the INR 1.5 crore limit on the levy of duty on MSMEs. While the same has been challenged to bring at a neutral level that of service tax.
