Chief Economic Adviser Report on GST Report on the Revenue Neutral Rate and Structure of Rates for the Goods and Services Tax (GST) Source : Press release –Ministry of Finance, 04-December, 2015 Committee headed by the Chief Economic Adviser Dr. Arvind Subramanian on Possible Tax rates under GST submits its Report to the Finance Minister;… Read More »
Govt mulls pruning tax exemption list of GST About 200 items, including premium tea and coffee, ready- to eat food and branded biscuits, could lose tax exemptions when the goods and services tax comes into effect. The Union government is planning to prune the list of excise duty exemptions from the current 300 to the… Read More »
An important objective of the proposed Goods and Services Tax ( GST) is to ensure a uniform tax base, same or similar tax rates, and aharmonised tax regime in India, which would unify India into a single market. However, under the Indian federal system, such need for harmonisation is often in conflict with the principles… Read More »
GST Bill is an ‘enabling amendment’, 3 more laws still needed: Arun Jaitely Union finance minister Arun Jaitley moved the GST Bill in the Lok Sabha on Monday and said that while it is an “enabling amendment”, there still remains work to be done as three more laws have to be created, of which two… Read More »
Text of PM’s address in Lok Sabha on GST Bill on 08.08.2016 आज 8 अगस्त है। अगस्त क्रांति का बिगुल 8 अगस्त को बजा था और महात्मा गांधी ने भारत छोड़ो इस मंत्र के साथ देश को आजादी के पूरे आंदोलन एक बहुत बड़ी तीव्रता के साथ आंदोलित किया था। और 9 अगस्त को आजादी… Read More »
Surging growth in Electronic filing of Income Tax Returns for Financial Year 2016-2017; Over 226.98 Lakh e-returns filed as on 5th August 2016 in F.Y. 2016-17 as compared to 70.97 Lakh for the same period in FY 2015-16 The facility of e-verification of IT returns has been used by over 75.3 Lakh taxpayers till 5th… Read More »
PM in Lok Sabha: GST is a Great Step by Team India, Great Step Towards Transformation PM 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) as a “Great Step by Team India,” a “Great Step Towards Transformation,”… Read More »
Insurance Regulatory and Development Authority of India IRDA/F&A/GDL/LSTD/155/08/2016 Dated 05.08.2016
The Indian trade and industry together with other stakeholders, witnessed a historical measure on 3rd August 2016, when the much anticipated 122nd Constitutional Amendment Bill 2014 (“GST Bill”) with certain changes, received unanimous assent of the Upper House (“Rajya Sabha”) of the Indian Parliament. The GST Bill which earlier sailed through the Lower House (“Lok… Read More »
Section 194 of Insolvency and Bankruptcy Code 2016 Vacancies, etc., not to invalidate proceedings of Board, Officers and employees of Board. 194. (1) No act or proceeding of the Board shall be invalid merely by reason of— (a) any vacancy in, or any defect in the constitution of, the Board; or (b) any defect in the… Read More »