Government Is Loosing Its Momentum
The idea of dropping the most quarrelsome issue of Constitutional Amendment from the recently concluded meeting of the Empowered Committee of the State Finance Ministers...
View ArticleStill More Is Required
The Centre wants to have a uniform limit of threshold for GST i.e. Rs 10 lakhs for both Centre and states. The states have been asking for a threshold of Rs 10, 00,000 for SGST and Rs 1.5 crore for CGST.
View ArticleSpeed And Efficiency Is Required
Mr. Yashwant Sinha, the Chairman of the Parliamentary Standing Committee on Finance, wants the Government to set an example for the States to implement the indirect tax reform by introducing first the...
View ArticleDeficiency In Collection OF Indirect Tax This Year
The revenue growth target for this year is challenging a change in tune from an hot tempered optimist about the economy that has triggered concerns tax collections may drop sharply as economic activity...
View ArticleGST May Miss April 2012 Target To Be Implemented As States Oppose Draft...
The introduction of GST through the comman goods and service tax or GST from the next financial year appears uncertain with fresh opposition pouring in from BJP ruled states who claims that it would...
View ArticleA Comparative View ON Goods And Services Tax
This comparison is based on the recommendations of the First Discussion Paper produced by the Empowered committee of states finance ministers (hereafter referred as EC) and the Report of the Task Force...
View ArticleA Step Ahead In The Direction Of Unanimous GST
A STEP AHEAD IN THE DIRECTION OF UNANIMOUS GST In addition, IGST (Integrated Goods and Services Tax) on inter-state transactions should also be levied and collected by the centre.
View ArticleGST Impact ON The Poor
GST is a destination based consumption tax. Consumption taxes are regressive in nature. It increases the gap between the rich and the poor. The pertinent point is whether such tax would be fruitful for...
View ArticleGst Scheme Exemptions
The prevalent indirect tax structure in India has a number of exemptions. At central level, 330 exemptions are allowed under CENVAT. These exemptions to service providers and manufacturers depend on...
View ArticleGST And Constitution
The GST Model proposed in the First Discussion Paper produced by the Empowered committee of state finance ministers on Nov 10, 2009, will be dual in nature.
View ArticleGst Transportation & Logistics
Transportation & logistics is a much wider term. It covers various service providers and services provided by all modes of transportation (e.g., air, road, rail and sea). It also comprises related...
View ArticleTax Administration In GST Regime
The scheme of GST should be supported by a strong tax-administration infrastructure for it's optimum success. Without an efficient tax-administration the implementation of goods and services tax will...
View ArticleGST And Its Dependency On IT Infrastructure
IT infrastructure will be one of the basic requirements for successful implementation of Goods and Services tax. It should be well in place before introduction of GST. Based on the experience of...
View ArticleGST Delay In Implementation
In 2006, the UPA Government announced that a comprehensive GST would be launched on 1st April, 2010 and it was believed that the introduction of GST is a difficult task, as our current structure of...
View ArticleGst And Fiscal Autonomy To The States
The proposed GST Scheme has created a sense of fear among states that they will lose their autonomy over levy of taxes. Presently, states enjoy total autonomy atleast in respect of state taxes. It is...
View ArticleGST And Economic Growth
To make India as a financial super power, the introduction of GST is must. There are much apprehension relating to proposed GST regime regarding the growth in Indian Economy and its effects thereof.
View ArticleGST in CANADA
In Canada Goods and Services Tax (GST) is a multi-level value added tax introduced on January 1, 1991, by Prime Minister Brian Mulroney and Finance Minister Michael Wilson. The GST replaced a hidden...
View ArticleGoods And Services Tax Malaysia
Goods and Services Tax in Malaysia may be implemented by the Malaysian Government somewhere in the third Quarter of 2011. 4% GST will replace the current sales and service tax currently levied at rates...
View ArticleGST in Singapore
On the recommendation of the 1986 Economic Committee, Singapore 's government decided that it needed to shift from direct to indirect taxes, in order to maintain its international competitiveness in...
View ArticleDevelopment OF Gst IN India
In the Union Budget for 2009-2010, the Finance Minister announced that GST would be in effect from April 1, 2010 in India.
View ArticleChallenges Of GST
The actual challenge before the Finance Minister is not of drafting a model GST but of its proper implementation and smooth transition from the prevailing system. The challenges which the Government...
View ArticleChanging Momentum Of Gst Still More To Do
In the last meeting of the Empowered Group of State Finance Ministers on GST to thrash out all pending issues , three major issues arises in front of the Government , with several states giving a...
View ArticleIT Infrastructure - A Priority For Gst
Unique Identification Authority of India (UIDAI) Chairman Nandan Nilekani is working on the IT preparedness for GST .IT infrastructure will play a huge role in interstate GST. Inter-state GST (IGST)...
View ArticleCag Report AN Eye-Opening For Gst
While the Government is trying hard with opposition parties to implement the Goods and Services Tax from April next year, a study carried out by the Comptroller and Auditor General of India [CAG] has...
View ArticleUps And Downs IN GST
The earlier draft was rejected by the states in the meeting of the Empowered Committee of the States Finance Ministers after they said it has vested the Union Finance Minister with a Veto power over...
View Article
