3 November, 2015
The Joint Committees on Business Processes for Goods & Services Tax (GST), set up by the Ministry of Finance, have given their reports providing a broad outline of the processes to be followed in respect of registration, payments, refunds and in case of filing of returns under the proposed GST regime by the assessees.
23 December, 2014
India took its first major step on GST when the 122nd Constitutional Amendment Bill, 2014 was introduced in Lok Sabha (House of People) on 19-12-2014. The amendments proposed in the Indian Constitution relate to introduction of Goods and Services Tax across the country.
The Bill is likely to be taken up for detailed discussions in the Budget Session of the Indian Parliamen...
By Sonal Singh
One of the many disputes that have continued to exist in the present regime of taxation of sale of goods are the disputes pertaining to determination of the nature of transaction as inter-State sale subject to Central Sales Tax or local sale subject to VAT. Such disputes especially arise when assessee in a State sells goods to a bu...
By Gagan Gugnani
The Revised Model GST Law (hence forth "RMGL") was made available in public domain in November, 2016. The commitment of the government is to roll out a simplified and easier indirect tax regime, yet the provisions reveal a different picture. The whole concept of availment of input tax credit (ITC) is set to change from ...
By Amutha Balasubramanian
The new Goods and Services Tax (GST) is a comprehensive indirect tax on manufacture, sale and consumption of goods and services across India. GST is a destination-based, value added taxation system. GST will be a dual levy in India and the eligible transactions will be subject to levy of both CGST and SGST in the case of...
By K. Srikanth
Much has been said about the introduction of levy of additional 1% tax proposed under clause 18 of the Constitutional (122nd Amendment) Bill 2014, (duly passed in Lok Sabha and which is now placed before a special committee, pending for approval by the Rajya Sabha, and subsequently by 50% of State Legislatures) on supply o...
By V. Sivasubramanian
A Goods and Services Tax (GST) is on the anvil. From the kind of discussions I see around in the media and Government circles, the only issues which are holding back its rollout is the lack of consensus on the compensation mechanism for the expected loss of some States on account of its implementation, inclusion or exclusion of specific products from scope of GST and the...
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