Inching a step closer to the roll out of the country’s most ambitious tax reform, the Centre and States approved the model draft Bills for Centre and Integrated goods and services tax (GST). “July 1, this year now optimistically looks like a possible date for the roll out of the GST,” Finance Min…
Tag: IGST
Jaitley hopes to resolve dual control issue in next GST Council meet
Admitting that the Goods and Services Tax (GST) Council was racing against time on the government’s implementation target of April 1, Finance Minister Arun Jaitley on January 4 said it is hoping to resolve the vexed issues of Integrated GST (iGST) and dual control over assesses in its next …
Centre mulling to ‘advance’ Winter Session for early GST roll out
In a bid to roll out the crucial Goods and Services Tax (GST) from April 1, 2017, the Modi government is considering to prepone the Winter session of Parliament to pass the CGST and IGST bills, and pave way for implementation of the new sales tax regime. The Winter session of Parliament is genera…
GST needs point-of-supply clarifications
With GST round the corner, companies are already reviewing and analysing the actual impact on their supply-chains. Unlike the existing regime, GST would be a destination-based consumption tax and the tax would accrue to the state where the goods/services are consumed. In this regard, the Model GS…
Nasscom seeks changes in GST model law
While Indian IT industry body Nasscom said that the Goods and Services Tax (GST) Bill is a welcome move, it has also voiced some concerns on the GST Model Law. Nasscom has suggested certain changes to the finance ministry on self-declaration procedures, instead of multiple paper-work for registra…