GST News

GST rollout to mark an unprecedented reforms measure in the modern global tax history

26 February 2016 at 16:49

GST rollout to mark an unprecedented reforms measure in the modern global tax history Economic Survey 2015-16 proposes widening tax net from 5.5 percent of earning individuals to more than 20 percent, reasonable taxation of the better-off individuals

Posted in GST | 4 comments | 9669 Views

Draft business process on GST registration put up online

12 October 2015 at 10:30

Draft Business Processes on GST registration, GST refunds and GST payments put-up on mygov.in for inviting comments; Comments and views are invited on these business processes by 31st October, 2015 The draft business processes on GST registration, G

Posted in GST | 2 comments | 13551 Views

Parameters for Splitting of GST Revenue Between Centre and States

12 August 2015 at 10:42

Under the proposed GST regime, both Centre and States will simultaneously levy GST across the value chain. Tax will be levied on supply of goods and services. Centre would levy and collect Central Goods and Services Tax (CGST), and States would levy

Posted in GST | 13377 Views

Sharing of GST Revenue with States

01 August 2015 at 13:26

The State Governments have not objected to the proposed formula of the Union Government for sharing of revenue with States that would be earned as Goods and Service Tax (GST). Under the proposed GST regime, both Centre and States will simultaneously

Posted in GST | 1 comments | 15471 Views

ICAI invites suggestion for GST

22 June 2015 at 11:12

The biggest tax reforms in the history of Independent India are taking its final shape as the Constitution (122nd Amendment) Bill relating to the Goods and Service Tax (GST) has been passed by the Lok Sabha. Multiplicity of taxes, varying rates, cost

Posted in GST | 2 comments | 16290 Views

FM approves formation of committee for facilitating implementation of GST from 1.04.2016

18 June 2015 at 10:33

Finance Minister approves the formation of 2 Committees for facilitating implementation of Goods and Services Tax from 1.4.2016. Finance Minister has approved the formation of 2 Committees for facilitating implementation of Goods and Services Tax fr

Posted in GST | 13005 Views

GST Constitutional Amendment Bill sent to Select Panel of Rajya Sabha

13 May 2015 at 15:26

Amid stiff resistance followed by walk out by the Congress Members, the Lok Sabha on May 6, 2015 had passed the much awaited Constitution (122nd Amendment) Bill, 2014 on Goods and Services Tax (�GST�) with 2/3rd majority. Being a Constitu

Posted in GST | 4 comments | 14868 Views

Lok Sabha passes the GST Constitutional Amendment Bill with 2/3 majority

06 May 2015 at 18:21

Amid stiff resistance followed by walk out by the Congress Members, the Lok Sabha today, on May 6, 2015 has passed the much awaited Constitution (122nd Amendment) Bill, 2014 on Goods and Services Tax (�GST�) with 2/3rd majority. The Hon&r

Posted in GST | 9 comments | 18327 Views

Incentivizing States Under GST Regime

06 May 2015 at 10:34

As tax rates during Goods and Services Tax (GST) regime will be closely aligned to the Revenue Neutral Rates (RNR) of the Centre and the States, the revenues of the Central and State Governments will not be impacted in the long run. To help States in

Posted in GST | 9183 Views

GST bill to be taken up next week in Parliament

29 April 2015 at 10:37

The Constitution (122 Amendment) Bill in respect of GST to be taken up in Lok Sabha next week Finance Bill to be taken up on Thursday Further to the suggestions from the Members of Lok Sabha, the Government has agreed to extend the ongoing discussio

Posted in GST | 1 comments | 11979 Views