Government forms two committees to implement GST

New Delhi: The central government on Wednesday announced the setting up of two committees to facilitate the rollout of the goods and services tax (GST) regime from April 1 next year and to propose the tax rates. A committee headed by Chief Economic Adviser Arvind Subramanian has been formed to come up with a revenue […]

Govt drafting model legislations for GST implementation: Tax official

New Delhi: Model legislations to implement the goods and services tax (GST) are being prepared and will be put up for comments from stakeholders after Parliament approves the GST constitution amendment bill, a tax department official said on Friday. The three legislations—central GST (CGST), state GST (SGST) and integrated GST (iGST)—will have to be approved by […]

RS panel seeks changes in GST bill on compensation to states

In the dissent note they said the Congress has objected to the proposed composition of the GST Council, imposition of one per cent additional manufacturing tax by states, and demanded safeguarding of revenue of panchayats and municipal bodies. The select committee on Goods and Services Tax submitted its report in the Rajya Sabha earlier today with […]

GST rate at 20% good for industry, consumers

The committee has suggested that the provision in the bill that provided Centre “may” compensate state for a period up to five years for any revenue loss to be substituted by a commitment for compensation for five years. Crucial among the nine bills pending in the Rajya Sabha are those related to GST, the Whistle Blower Protection (Amendment) Bill, 2015, […]

Rajya Sabha panel backs majority of GST Bill proposals

Though the Opposition forced adjournments in both Houses of Parliament on Wednesday, the chances of the Constitution (122nd Amendment) Bill, meant to introduce the Goods and Services Tax (GST), clearing Parliament in the current session brightened, with the Rajya Sabha Select Committee endorsing almost all its provisions. In its report submitted to the House, the […]