After it was almost clear after 9th meeting of GST Council that GST may now be implemented from July, 2017 only, at the earliest, all eyes were on the Union Budget 2017-18 which has since been presented in the Parliament of India on 1st February, 2017.
GST Council’s 9th meeting was held recently on 16th January, 2017 for the ninth time, second time in 2017, for deciding upon the unresolved issues, mainly about the cross empowerment and territorial jurisdiction of states. This meeting was considered significant for timing of GST as the last attempt to reconcile and make the states agree
While the Government still claims that it is actively working to see GST roll out from April, 2017, much would depend upon next week’s GST Council meeting. States have indicated that it could be doable from any time between June and September, 2017.
The 8th meeting of GSTC held on 3-4 January, 2017concluded without any break through on cross empowerment, territory and compensation issues. The issue of territory was not raised earlier and compensation issue has triggered again as a fall out of demonetization.
There is a general sentiment everywhere that India may witness a lower tax regime hence forth. This is the hope of citizens and businessmen as also being realized (off late) by the Government and tax administration.
Any law and tax laws in particular, use many words and expressions in statutory provisions. Each word has importance as well as relevance in a statutory provision and it must be read as per the text as well as context.
Clouds over the likely date of GST are now emerging clearer that GST may not be possible on 1st April, 2017 and that date is certainly going to the missed
Delhi High Court come down heavily on Revenue against high handedness in arresting tax payers or their employees without proper adjudication
The Book, ‘A Complete Guide to Goods and Services Tax – Ready Reckoner in Q & A Format’ is perhaps the only book available containing over 1400 Frequently Asked Questions (FAQs) on proposed Goods and Services Tax (GST) which explains entire concept of GST with 3600 approach to the new taxation regime.
#Demonetization of high value currency (Rs. 500 and Rs. 1000 notes) w.e.f. midnight of 8-9 November, 2016 is now a fortnight old decision, aftereffect of which is still worrisome and concerning.
