Dear Professional Colleagues
Greetings from Indirect Taxes Committee!
The 122nd Constitution (Amendment GST) Bill, 2014 to thoroughly overhaul India’s indirect tax regime has been passed by the Lok Sabha in 2015 and pending with Rajya Sabha for its approval and may be passed in the monsoon session of Parliament. This is a welcome step of the government has released draft Model GST Law in public domain. The provision for audit under section 42 (4) may also be examined as a landmark opportunity for professionals.
In order to support the government with smooth transition to GST from existing regime, ICAI is in the process of collating suggestions on the draft GST Law as released by Ministry of Finance. This would help in making the law simple, fair and transparent. The draft bill is hosted on the below link:
http://goo.gl/7y056d
We request you to provide your suggestions on the draft Model GST Law at the below link latest by 30th June 2016.
http://goo.gl/B0K88v
You may also register for Indirect Taxes update at the website of committee www.idtc.icai.org for updates and information on the development in proposed GST. For any support you may contact Secretary, Indirect Taxes Committee at idtc@icai.in or 0120-3045954.
Warm Regards
| CA. Madhukar Narayan Hiregange Chairman Indirect Taxes Committee |
CA. Sushil Kumar Goyal Vice Chairman Indirect Taxes Committee |
The Institute of Chartered Accountants of India
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