GST News

Cabinet approves creation of GST Council and its Secretariat

13 September 2016 at 11:07

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has approved setting up of GST Council and setting up its Secretariat as per the following details: Creation of the GST Council as per Article 279A of the amended Constit

Posted in GST | 1 comments | 4806 Views

Revenue secretary reviews IT preparedness for smooth roll out of GST

23 August 2016 at 10:42

Revenue Secretary reviews IT preparedness of the various stakeholders for smooth roll-out of Goods and Services Tax. A meeting was held today under the Chairmanship of Revenue Secretary Dr Hasmukh Adhia to review the IT preparedness of the various st

Posted in GST | 2967 Views

Lok Sabha passes GST constitutional amendment bill , PM says GST a great step by Team India

09 August 2016 at 11:00

PM in Lok Sabha: GST is a Great Step by Team India, Great Step Towards TransformationPM describes the imminent passage of GST as a victory for Indian Democracy The Prime Minister, Shri Narendra Modi, today described the Goods and Services Tax (GST) a

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Lok Sabha to consider the GST Constitutional Amendment bill next week

06 August 2016 at 18:07

Lok Sabha to consider the Constitutional Amendment bill relating to GST next week Constitutional Amendment bill passed with huge consensus in Rajya SabhaRajya Sabha passed 5 Bills and Lok Sabha2 bills during the weekThe passing of the Constitution (O

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ICSI president on passing of the bill paving way for GST

05 August 2016 at 11:31

Dear Professional ColleaguesGreetings from ICSI With the passage of Constitution Amendment (122nd) Bill in Rajya Sabha on August 03 2016, ICSI welcomes one of the most significant tax reforms in the history of India. The changes made in the Bill at R

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Frequently asked questions on GST

03 August 2016 at 18:53

Following are the answers to the various frequently asked questions relating to GST:Question 1.What is GST? How does it work? Answer: GST is one indirect tax for the whole nation

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Draft GST law released by Ministry of Finance

15 June 2016 at 10:43

GOODS AND SERVICES TAX ACT, 2016 CHAPTER � IPRELIMINARY1. Short title, extent and commencement2. Definitions3. Meaning and scope of supplyCHAPTER� IIADMINISTRATION4. Classes of officers under the Central Goods and Services Tax Act4. Class

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GST rollout to mark an unprecedented reforms measure in the modern global tax history

26 February 2016 at 16:49

GST rollout to mark an unprecedented reforms measure in the modern global tax history Economic Survey 2015-16 proposes widening tax net from 5.5 percent of earning individuals to more than 20 percent, reasonable taxation of the better-off individuals

Posted in GST | 4 comments | 9636 Views

Draft business process on GST registration put up online

12 October 2015 at 10:30

Draft Business Processes on GST registration, GST refunds and GST payments put-up on mygov.in for inviting comments; Comments and views are invited on these business processes by 31st October, 2015 The draft business processes on GST registration, G

Posted in GST | 2 comments | 13527 Views

Parameters for Splitting of GST Revenue Between Centre and States

12 August 2015 at 10:42

Under the proposed GST regime, both Centre and States will simultaneously levy GST across the value chain. Tax will be levied on supply of goods and services. Centre would levy and collect Central Goods and Services Tax (CGST), and States would levy

Posted in GST | 13356 Views