GST News

Lok Sabha passes GST constitutional amendment bill , PM says GST a great step by Team India

09 August 2016 at 11:00

PM in Lok Sabha: GST is a Great Step by Team India, Great Step Towards TransformationPM describes the imminent passage of GST as a victory for Indian Democracy The Prime Minister, Shri Narendra Modi, today described the Goods and Services Tax (GST) a

Posted in GST | 3873 Views

Lok Sabha to consider the GST Constitutional Amendment bill next week

06 August 2016 at 18:07

Lok Sabha to consider the Constitutional Amendment bill relating to GST next week Constitutional Amendment bill passed with huge consensus in Rajya SabhaRajya Sabha passed 5 Bills and Lok Sabha2 bills during the weekThe passing of the Constitution (O

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ICSI president on passing of the bill paving way for GST

05 August 2016 at 11:31

Dear Professional ColleaguesGreetings from ICSI With the passage of Constitution Amendment (122nd) Bill in Rajya Sabha on August 03 2016, ICSI welcomes one of the most significant tax reforms in the history of India. The changes made in the Bill at R

Posted in GST | 2 comments | 4644 Views

Frequently asked questions on GST

03 August 2016 at 18:53

Following are the answers to the various frequently asked questions relating to GST:Question 1.What is GST? How does it work? Answer: GST is one indirect tax for the whole nation

Posted in GST | 11 comments | 48366 Views

Draft GST law released by Ministry of Finance

15 June 2016 at 10:43

GOODS AND SERVICES TAX ACT, 2016 CHAPTER � IPRELIMINARY1. Short title, extent and commencement2. Definitions3. Meaning and scope of supplyCHAPTER� IIADMINISTRATION4. Classes of officers under the Central Goods and Services Tax Act4. Class

Posted in GST | 1 comments | 9663 Views

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 | 9729 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 | 13626 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 | 13425 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 | 15534 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 | 16416 Views