- Monday, December 21, 2009, 16:18
- GST
- 4 views
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.
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- Thursday, December 17, 2009, 1:02
- GST
- 14 views
The Thirteenth Finance Commission’s taskforce on the proposed goods and services tax (GST) has recommended a 5 per cent central GST and 7 per cent state GST on all goods and services, except five specific categories. It has proposed a zero rate for exports though it is not in favour of any special dispensation for the special economic zones (SEZs).
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- Monday, November 23, 2009, 3:00
- Income Tax
- 3 views
The total tax arrears have galloped to nearly Rs 2 lakh crore till September 30, 2009, an amount sufficient to fund at least half of the government’s budget deficit for the current financial year. But, surprisingly, the government has said that it can only recover Rs 13,000 crore, about 6.5% of the total outstanding, from corporates and individuals on whom the tax is pending.
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