Proposed GST Rate at 18% to Boost Luxury Retail, Hospitality Sectors Hospitality and luxury industry experts have said implementation of GST (goods and services tax) will benefit the sectors by lowering costs for consumers and facilitating seamless movement of products across the country. The Rajya Sabha on Wednesday voted to approve a constitutional amendment that… Read More »
The Goods and Services Tax (GST) could bring in transparency in the functioning of the real estate sector and even reduce the cost of ownership of homes for buyers, especially if the GST rate is lower than all the current rates put together, said builders and tax consultants. These consultants, however, said there’s one problem… Read More »
The government and the Bharatiya Janata Party (BJP) are confident of a smooth legislative journey for the goods and services tax (GST) over the next few months, both in state assemblies and Parliament. The two are now chalking out a campaign to take the tax reform to the people as an effort that would reduce… Read More »
The government is likely to introduce the Constitution Amendment Bill on GST in Lok Sabha early next week, as the Finance Ministry is gearing up to implement the tax measure from April 1 next year. The Rajya Sabha had yesterday approved the Bill on the Goods and Services Tax. Six official amendments, including scrapping of… Read More »
Framework for computation of book profit for the purposes of levy of MAT under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies. A Committee had been constituted, with the approval of the Finance Minister, to suggest the framework for computation of book profit for the purposes of levy… Read More »
Statutory and Institutionalised framework for Monetary Policy; Central Government in consultation with RBI announces the Inflation Target of Four Percent The Finance Minister had announced in his Budget Speech for 2016-17 the Government’s intention to amend the Reserve Bank of India Act, 1934 (RBI Act) to provide for a statutory and institutionalised framework for a… Read More »
Report on the Revenue Neutral Rate and Structure of Rates for the Goods and Services Tax (GST) December 4, 2015 Related Post Model GST Law Released by Govt FAQs on GST Released by Govt Book on GST- Complete Guide to Model GST Law- June 2016 Edition GST Registration : Report of Joint Committee on Business Process for… Read More »
REPORT OF THE JOINT COMMITTEE ON BUSINESS PROCESSES FOR GST ON REFUND PROCESSES Empowered Committee of State Finance Ministers New Delhi August, 2015 Related Post Model GST Law Released by Govt FAQs on GST Released by Govt Book on GST- Complete Guide to Model GST Law- June 2016 Edition GST Registration : Report of Joint… Read More »
REPORT OF THE JOINT COMMITTEE ON BUSINESS PROCESSES FOR GST ON GST REGISTRATION Empowered Committee of State Finance Ministers New Delhi July, 2015 Download Report of the Committee on GST Registration Related Post Model GST Law Released by Govt FAQs on GST Released by Govt Book on GST- Complete Guide to Model GST Law- June… Read More »
SEVENTH SCHEDULE [Article 246] LIST I – UNION LIST [RELEVANT PROVISIONS OF CONSTITUTION OF INDIA AS AMENDED BY THE CONSTITUTION (ONE HUNDRED AND FIRST AMENDMENT) BILL, 2016 AS PASSED BY RAJYA SABHA ON 3RD AUGUST, 2016] SEVENTH SCHEDULE [Article 246] LIST I – UNION LIST ** ** ** 2[84. Duties of excise on the… Read More »