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
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
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
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
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
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
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
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
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
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
CAclubindia
