Modi says hopeful of rolling out GST in 2016
Posted Date : 25-Nov-2015 , 07:59:10 am | Posted By CASANSAAR
The government is hopeful of rolling out the goods and services tax (GST) in 2016, Prime Minister Narendra Modi said on Tuesday, and asserted that reforms were happening in a big way and reaching the last mile.
Addressing the India-Singapore Economic Convention, Modi said the government had...
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For smooth and quick passage of GST Bill, government reaches out to opposition
Posted Date : 24-Nov-2015 , 08:34:40 am | Posted By CASANSAAR
The government is reaching out to parties in the opposition on the much-delayed goods and services tax — including looking at the possibility of incorporating some of the changes proposed by the Congress — as it seeks to ensure passage of the Constitution amendment b...
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Govt to reach out to oppn to get GST Bill passed: FM
Posted Date : 17-Nov-2015 , 08:26:46 am | Posted By CASANSAAR
Finance Minister Arun Jaitley today said the government would make all efforts to persuade the opposition for the passage of Constitution amendment bill for implementation of GST in the winter session.
"The process of economic reforms is a continuing one, no reform legislation is stopped in ...
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No revised returns permitted under Proposed GST
Posted Date : 22-Oct-2015 , 09:02:54 am | Posted By CASANSAAR
The proposed Goods and Service Tax (GST) mechanism will not permit any revision of GST returns, which may create some challenges for taxpayers. Currently, both service tax and value added tax (VAT) laws permit revision of the tax returns that have been filed. In other words, taxpayers can file a fre...
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Infosys to roll out GST collection network for government in Rs 13,130 Cr deal
Posted Date : 13-Oct-2015 , 10:57:40 am | Posted By CASANSAAR
Software major Infosys will soon implement the central government’s ambitious project to network the country for its Goods and Services Tax (GST) collection, a senior official said on Monday. ”As the sole vendor for the five-year project, we will set up the network ac...
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GST can be implemented any time, once Bill passed: CBEC
Posted Date : 09-Oct-2015 , 10:29:33 pm | Posted By CASANSAAR
The tax department has said that Goods and Services Tax (GST) can be implemented anytime in 2016, once the Bill is passed.
Speaking at the 3rd CII Global Tax Summit organised in Delhi on Thursday, V S Krishnan, Member, Service Tax, CBEC, Ministry of Finance clarified that missing the 1st April 20...
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Govt confident of new GST regime to roll out from next fiscal: FM
Posted Date : 22-Sep-2015 , 08:02:04 am | Posted By CASANSAAR
Finance Minister Arun Jaitley today hoped that economic growth will be higher than 7.3 per cent, recorded last year. He said all macroeconomic parameters appear positive.
Addressing global fund managers and institutional investors in Hong Kong on the last day of his four-day visit to Singap...
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Centre drops plans to call special session for GST passage
Posted Date : 09-Sep-2015 , 06:46:27 pm | Posted By CASANSAAR
With no signs of support coming from the main opposition Congress, the Centre on Wednesday dropped plans for calling a special session of Parliament for passage of the Goods and Services Tax (GST) bill and decided to prorogue both the Lok Sabha and the Rajya Sabha.
“Keeping the political ...
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Govt to decide today on special session for GST bill
Posted Date : 26-Aug-2015 , 08:09:12 am | Posted By CASANSAAR
Looking to turn the Chinese stocks crisis to its advantage, the government is preparing to bat for a special session of Parliament to pass the GST bill, arguing that this will boost India's ability to buffer the Indian economy.
The Cabinet is expected to take a call whether to convene a...
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Govt to ensure reasonable GST rate: FinMin
Posted Date : 20-Aug-2015 , 09:44:36 pm | Posted By CASANSAAR
Government is trying to keep proposed GST rate as reasonable as possible to ensure success of the new indirect tax regime and better growth of the economy. Revenue Secretary Shaktikanta Das said this at a function in New Delhi today.
He also said the effort of the government is to ensure a ...
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In Run-Up to GST, Finance Ministry Rechristens Service Tax Directorate
Posted Date : 16-Aug-2015 , 10:27:24 pm | Posted By CASANSAAR
Even as the Modi government is yet to cross the Parliamentary hurdle before it can roll out a uniform tax regime, it has rechristened Mumbai-based Directorate General of Service Tax as Directorate General of Goods and Service Tax (DGGST), and shifted it to Delhi.
The move follows a decision by Ce...
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Govt mulls special session of Parliament to pass GST Bill
Posted Date : 13-Aug-2015 , 09:05:09 am | Posted By CASANSAAR
With just two days left of the Monsoon Session of Parliament, the government is making a last-minute effort to find a way to get parliamentary approval for the Goods and Services Tax (GST) Bill.
If the bill is not passed in Rajya Sabha in these two days, the government could call a short specia...
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GST rollout difficult from April if bill not passed now
Posted Date : 11-Aug-2015 , 09:40:50 pm | Posted By CASANSAAR
It will become "very difficult" to roll out the new indirect tax regime by the April 2016 target if GST bill is not passed in the current session of Parliament, Chairman of Empowered Committee of State Finance Ministers K M Mani said on Tuesday.
He added however that in case the passage...
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Govt lists GST Bill for passage in Rajya Sabha today
Posted Date : 11-Aug-2015 , 07:40:41 am | Posted By CASANSAAR
The government will today bring the much-awaited bill on GST for passage in the Rajya Sabha even as doubts persist if the Opposition Congress will allow passage of the Constitution Amendment Bill.
The Revised List of Business of Rajya Sabha said Finance Minister Arun Jaitley will move...
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Government clears GST amendments, States to be compensated for 5 years
Posted Date : 30-Jul-2015 , 07:54:46 am | Posted By CASANSAAR
The Cabinet on Wednesday approved amendments to the GST (Goods and Services Tax) Bill to compensate states for revenue loss for five years on introduction of the uniform nationwide indirect tax regime, as has been suggested by the Rajya Sabha Select Committee.
The Union Cabinet, chaired by Prime ...
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GST looks closer to becoming a reality now
Posted Date : 22-Jul-2015 , 10:34:31 pm | Posted By CASANSAAR
With the select panel of the Rajya Sabha endorsing majority provisions of the GST bill, the landmark tax reforms legislation looks closer to becoming a reality soon after a decade of political flipflops and wranglings. The new tax system will unify the nation’s 29 states under a single sales t...
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Rajya Sabha panel gives nod for GST bill
Posted Date : 21-Jul-2015 , 08:31:36 am | Posted By CASANSAAR
A select committee of Rajya Sabha on Monday signed off on the goods and services tax (GST) bill, setting the stage for its introduction in the upper House and eventual implementation from 1 April 2016.
Passing the 122nd Constitution amendment bill in the Rajya Sabha in the first half of the monso...
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Parliamentary panel readies report on GST, Govt gives in on major demand
Posted Date : 20-Jul-2015 , 08:09:49 am | Posted By CASANSAAR
A Parliamentary Committee, which scrutinised the crucial Goods and Services Tax (GST) Bill, has prepared a draft report wherein the government has agreed to provide compensation to states for any revenue loss for five years, thus giving in to one of the major demands from several opposition parties....
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FM approves the formation of 2 Committees for facilitating implementation of GST from 1.4.2016.
Posted Date : 18-Jun-2015 , 07:09:38 am | Posted By CASANSAAR
Finance Minister has approved the formation of 2 Committees for facilitating implementation of Goods and Services Tax from 1.4.2016.
A Steering Committee been formed under the Co-Chairmanship of Additional Secretary, Department of Revenue and Member Secretary, Empowered Committee of State F...
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States seek full compensation for first 5 yr for revenue loss following GST implementation
Posted Date : 06-Jun-2015 , 08:49:02 pm | Posted By CASANSAAR
States have sought full compensation for the first five years from the Centre for the revenue loss following the implementation of Goods and services tax (GST). This emerged during the meeting of State Finance Ministers Empowered Committee on GST, which was held in New Delhi yesterday under the Chai...
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GST could come into force earlier than expected - FM
Posted Date : 27-May-2015 , 09:01:51 am | Posted By CASANSAAR
Union finance minister Arun Jaitley indicated that Goods and Service Tax (GST) could come into force earlier than expected. Addressing a gathering at Tagore Hall in the city on the occasion of the Modi government completing one year, Jaitley said that GST could be implemented in the country from as ...
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Govt to refer Land Bill, GST Bill to special panels for further review
Posted Date : 12-May-2015 , 09:48:10 pm | Posted By CASANSAAR
The government on Monday appeared to have blinked in its ongoing stand-off with the Congress in Parliament by agreeing to refer two key Bills related to land acquisition and Goods and Services Tax to special panels for further review. Both the Bills are flagship economic reform legislations.
Ac...
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Govt set to bring GST Bill in Rajya Sabha today
Posted Date : 11-May-2015 , 08:20:42 am | Posted By CASANSAAR
The government is set to bring the Goods and Services Tax, GST bill, before the Rajya Sabha today which aimed at reforming of India's indirect tax regime. The bill was last week passed by the Lok Sabha with a two-thirds majority of the members present and voting as required for a constitutional ...
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GST meet: Consensus on imports and registration
Posted Date : 08-May-2015 , 08:54:56 pm | Posted By CASANSAAR
The Empowered Committee of state finance ministers on GST have reached a consensus on issues related to imports, registration and authorised GST network company to go ahead with preparation of IT platform for GST.
The two-day meet which ended here today also agreed to share the cost of GSTN by th...
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GST Bill to be taken up in Rajya Sabha today
Posted Date : 07-May-2015 , 08:31:23 am | Posted By CASANSAAR
The government on Wednesday passed the key economic reform Goods and Services Tax (GST) regime in the Lok Sabha amid a walkout by the Congress.
However, the Modi government will face the Opposition hurdle when the legislation will be taken up in Rajya Sabha on Thursday.
The Bill ...
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Highlights of New Proposed Goods & Service Tax (GST)
Posted Date : 06-May-2015 , 09:20:02 pm | Posted By CASANSAAR
1. The basic principal governing behind GST is to have single Taxation System for Goods and Services across the country. Currently Indian economy has various taxes on Goods and services such as VAT, Service Tax, Excise, Entertainment Tax, Luxury Tax Etc. Now in the new Proposal of GST; we will be ha...
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GST Constitutional Amendment Bill Passed by Lok Sabha
Posted Date : 06-May-2015 , 04:55:51 pm | Posted By CASANSAAR
The Lok Sabha on Wednesday passed the GST Constitutional Amendment Bill.
Meanwhile, Union Finance Minister Arun Jaitley said that GST will reduce prices in the long run and boost economic growth. "I don't forsee any state losing revenue after roll out of GST," Jaitley said.
...
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GST Update - Incentivizing States Under GST Regime
Posted Date : 05-May-2015 , 10:10:59 pm | Posted By CASANSAAR
As tax rates during Goods and Services Tax (GST) regime will be closely aligned to the Revenue Neutral Rates (RNR) of the Centre and the States, the revenues of the Central and State Governments will not be impacted in the long run. To help States in the transition phase, the Constitution (122nd Ame...
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GST bill tables in Lok Sabha, Opposition demands bill be sent to Standing committee
Posted Date : 24-Apr-2015 , 10:16:03 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley today said the Goods and Services Tax Bill (GST) will simplify the tax regime and contribute significantly for the growth of country's economy. Moving the the Constitution amendment bill for consideration in the Lok Sabha, Mr. Jaitley said it would be a win win...
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GST Bill likely to be tabled in Lok Sabha today
Posted Date : 24-Apr-2015 , 08:14:53 am | Posted By CASANSAAR
With most states on board, the government proposes to take up for consideration and passage a Constitution Amendment bill in the Lok Sabha Friday to roll out the Goods and Services Tax (GST).
"The government will move the bill today and try to get it passed by Monday," a highly-placed s...
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