GST rollout, April 1, 2017 a daunting target for Jaitley
Ranjeet Mahtani & Sweta Rajan The Goods and Services Tax Council (Council) met on December 22 and 23. The Council agreed on most aspects of the structure of the Central Goods and Services Tax and State Goods and Services Tax legislations, save and except some administrative and audit issues. Discussions of the 197 provisions and 5 schedules were carried out almost clause by clause, and concluded. The two-day meeting was scheduled to discuss the thorny dual control issue, which has been postponed in the past. This issue was not discussed in this meeting as well, and has been kept aside to be taken up in the next meeting (on 3rd and 4th January, 2017). Another issue that is yet to be debated and ...
GST panel's proposed tax rate evokes positive response
Industry bodies like FICCI, ASSOCHAM and PHDCCI have welcomed the Chief Economic Adviser Arvind Subramanians proposed tax rates under GST system Deepak Kumar |The Dollar Business Bureau The government aims to implement the GST from April 1, 2016 Several industry experts on Monday welcomed the GST Councils proposed tax rate and said the recommended tariff under the uniform tax regime would bring transparency and competitiveness in the Indian market, thus benefitting traders as well as consumers. The government aims to implement Goods and Services Tax (GST) system from April 1, 2016. However, the bill seeking amendments in the constitution for enforcing the tax reform is yet to be cleared from the Rajya Sabha. The GST Council set up by the government has proposed ...
