Model GST Law to be finalised by February end
The Dollar Business Bureau Model Goods and Services Tax (GST) law, which is presently being examined by the department of law, is likely to be finalised by the end of this month, said a senior official from the Finance Ministry. The model law will set the path for rolling out of the GST from July 1, 2017. “We are very close to finalisation of law. The Model law will be finalised by the end of this month. Currently, Model CGST and SGST law are being vetted by the law ministry, and these will be taken before the GST Council meeting on February 18, said Ram Tirath, Member, Central Board of Indirect Taxes. In the second leg of Budget session, which is starting from March 9, the ...
Govt to miss disinvestment target serially for fourth time in FY17
The Dollar Business Bureau With complete dimming of disinvestment in the current financial year, the government is likely to drastically scale down targets for realisation of resources from Public Sector Units’ (PSUs) stake sale in the upcoming budget for 2016-17. “With just about a month to go for the budget presentation and the window of opportunity having been missed earlier in the year, there is no hope that the over-optimistic disinvestment target of Rs.69,500 crore for the current financial year could be reached,” said Associated Chamber of Commerce and Industry (ASSOCHAM) in its latest release. Hopefully, the Finance Ministry will desist from setting an un-realistic disinvestment yet again for the financial year 2016-17, ASSOCHAM paper on budget expectations pointed out. “Oddness against the equity ...
