GST law News

Under the current law, show cause notices were first issued and then recovery process was initiated. There will be now show-cause notices from Jan 1. Section 75 of GST Act states where there is any self-assessed tax, then it can be recovered without issuing show-cause notice.

The Prime Minister also asked officers to use data analytical tools to proactively track and determine undeclared income and wealth. 

The official clarification comes after Congress criticised the governemnt for levying GST on wheelchairs and Braille typewriters and demanded a full roll-back of the "disability tax".  

The Excel template, comprising eight worksheets, is part of GST Network's approach to make tax compliance easy and convenient for taxpayers and also reduce the time of compliance.

The GST Council is likely to finalise the draft model GST law including final drafting of the anti-profiteering clause to ensure benefit of lower taxes gets shared with consumers on Saturday.

The GST Council, which is meeting on Saturday, is likely to finalise the draft model GST law including final drafting of the anti-profiteering clause to ensure benefit of lower taxes gets shared with consumers.

E-commerce business firms will have to deduct TCS (tax collected at source) while making payments to their suppliers. 

To restrict any rise in the commodity prices post goods and services tax (GST) implementation, Centre has proposed an 'anti-profiteering' measure to ensure that trade and industry pass the benefits of reduction in tax rates to consumers.

The Centre will share the draft model GST law with the states on Tuesday as it prepares for the rollout of Goods and Services Tax (GST) from April 1 next year, CBEC Chairman Najib Shah said today.

Tax consultancy firm KPMG on Monday said it has tied up with industry chamber Ficci for an awareness campaign on GST to highlight benefits and challenges of the new indirect tax regime.  

Raising concerns over the model GST law, industry chambers today sought more clarity on various issues like dual administrative control, discretionary power of tax authorities and taxation of electricity.

As the government gears up for a fresh push to get the long-pending GST law passed, Finance Minister Arun Jaitley today said the 'one nation, one tax' regime will reduce the taxation levels and also eliminate corruption. 

Share Bazar, Mandi Live, Aap Ka Bazar, First Trade, Big Debate etc.

Share Bazar, Mandi Live, Aap Ka Bazar, First Trade, Big Debate etc.

Getting ready to roll out Goods and Service Tax in 2016, the Central and State governments have agreed on the draft model Goods and Services Tax law, which is expected to be put up in public domain by early November.  

Government on Thursday appeared to be keeping its options open on convening a special session of Parliament for enacting the GST law on which Finance Minister Arun Jaitley declared that it was determined to stick to the rollout deadline of April 1, 2016.