Dual GST Model

Model GST law to cap tax rate at 40 per cent; slabs intact

The draft model GST law, like other taxation laws, will change the wording for peak rate from ‘not exceeding 14 per cent’ to ‘not exceeding 20 per cent’, taking the total to 40 per cent. The Goods and Services Tax (GST) Council has agreed to put in an enabling provision in draft model GST law […]

Flipkart, Snapdeal, Amazon come together to pick on GST

The stalwarts of Indian e-commerce – Flipkart’s Sachin Bansal and Snapdeal’s Kunal Bahl – along with Amazon India’s Amit Agarwal, joined hands on Thursday to pick on the Tax Collection at Source (TCS) clause in the Goods and Services Tax. The three men were speaking at the E-commerce industry in India’s press meet organised by […]

Baby steps to GST

Dual control has been sorted out for now, but the devil lies in the details On the face of it, it is a relief that the Centre and States have sorted out the issue of ‘dual control’, paving the way for an early introduction of the Goods and Services Tax (GST). Bureaucracies are not known […]

Central, state officials discuss GST rate on goods, services

Tax officers of both central and state governments discussed on Monday various aspects of draft GST laws, the tax rate on various goods and services and exempted ones under the indirect tax regime, which is likely to kick in from April next year. Revenue secretary Hasmukh Adhia chaired the meeting to finalise the draft GST […]

Centre to share model GST law with states today

The Centre will share the draft model GST law with the states today as it prepares for the rollout of GST from April 1 next year, CBEC Chairman Najib Shah said. The Centre will share the draft model GST law with the states today as it prepares for the rollout of Goods and Services Tax […]

GST: Duel Over Dual Control

At the end of the fourth round of the GST Council meeting, it seemed like the states and Centre are engaged in a duel over dual control. After its first meeting, the Council had announced that dealers with annual turnover of less that Rs 1.5 crore will be assessed by states and those with annual […]

Three Meetings Of The GST Council And No Decision On Rates Yet

The third meeting of the GST Council ended on Wednesday, a day earlier than scheduled, without reaching a consensus on the rate structure of the new indirect tax regime. The Council ended its meeting abruptly, and is now scheduled to meet again on November 3-4, and thereafter on November 9-10, Finance Minister Arun Jaitley told […]

Model GST Law may redefine employer-employee relationship

There is a growing sense of optimism on GST as India is swiftly gaining momentum towards implementation of its most significant tax triggered business reform post-independence—a game changer which will become reality in 2017 for certain. Apart from various benefits accruing, GST is attempting to bring in altogether a new perception to taxing principles, by […]

Cabinet clears setting up of GST council

Only after its recommendations will the central GST, integrated GST and state GST Bills be taken up The Cabinet on Monday cleared a proposal to set up the Goods and Services Tax (GST) Council, which would recommend on draft model GST Bill, tax rate and contentious issues of dual control over assessment, scrutiny over assesses […]

GST Bill passed: When does it come into force?

After 16 years, India’s biggest tax reform bill, GST Constitutional Amendment Bill was passed in Rajya Sabha on Wednesday. The bill was cleared post a unanimous vote in favour of the bill. After being the opposition to the Bill for many years, Narendra Modi-led Government has finally managed to convince the Rajya Sabha to pass […]