introduction of gst

The Planning Commission today said that the proposed Goods and Services Tax (GST) is likely to miss the deadline of April 1, but it could be introduced in the next fiscal only. "Well, we were hoping that it (GST) will come from April 1, but it does not appear that it will be so," Planning Commission Member B K Chaturvedi told PTI. Full Article

A recent report by Finance Commission taskforce has clarified many issues related to implementation of GST in India. Though there are many new matters which were considered in this report, but there some variations were observed as of the matters which were recommended in first discussion paper on implementation of GST in India, issued by 13th Empowered Committee of Finance Ministers on 11th November 2009. Full Article

If the Value Added Tax (VAT) is considered to be a major improvement over the pre-existing Central excise duty at the national level and the sales tax system at the State level, then the Goods and Services Tax (GST) will be a further significant breakthrough - the next logical step - towards a comprehensive indirect tax reform in the country. Full Article

It gives me great pleasure to be here on this occasion when the Empowered Committee under the dynamic leadership of Dr. Asim Dasgupta is releasing its First Discussion Paper on the proposed Goods and Services Tax (GST). At the outset, let me whole-heartedly congratulate all of you for giving shape and form to an idea whose time, I believe, has truly come. Full Article

Asking the state finance ministers to resolve the pending issues expeditiously, the Centre on Thursday said introducing Goods and Services Tax was critical for economic reforms. “We also need to focus on the introduction of GST from April 1, 2010. This is a critical part of our economic reforms,” Finance Minister Pranab Mukherjee said while [...] Full Article

At present, the tax, which is levied on inter state sale of goods, is at 2%. It was scheduled to be reduced by another 1%, starting April 1, 2009. At the time, the rate cut was postponed on account of the general elections and the Election Commission’s code of conduct. Recently, the empowered committee of state finance ministers wrote to the Union finance ministry recommending that the tax should be completely withdrawn when GST kicks in, as there is massive evasion of.. Full Article