Search Result for : Inter State Tax Rate

Ranjeet Mahtani & Stella Joseph  The nation awaits the outcome of the GST Council’s 15th meeting. The agenda is loaded with the finalisation of rates for certain commodities, certain rules & regulations and issues raised by trade & industry.  Yet, as industry and Governments rush to meet the stated (01st July, 2017) deadline for embracing and implementing GST, various nuances of the GST legislations are slowly coming to the fore. The devil lies in the detail.  One provision which is likely to have serious implications for businesses is Section 7(5) of the Integrated Goods and Services Tax Act, 2017 (“ÏGST Act”). When the supplier is located in India and the place of supply is outside India (as determined by an application of the ...

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 ...