India’s march towards an integrated Goods and Services Tax (GST) regime appears to have considerably slowed down since the Union government’s failed attempt to introduce in Parliament a Constitution amendment Bill needed to bring about the proposed reform in indirect taxes across the country. The finance ministry, the chief architect of the proposed GST regime, [...]
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Dasgupta asks Centre to do away with GST council
Posted by admin on October 24th, 2010
In what could delay further the implementation of Goods and Services Tax (GST), state panel chief Asim Dasgupta has asked the Centre to do away with GST council and the dispute settlement body in the constitutional amendment bill. “Empowered Group of State Finance Ministers Chairman Asim Dasgupta recently met Union Finance Minister Pranab Mukherjee and [...]
GST still a distant dream
Posted by admin on October 21st, 2010
It appears there is no end in sight to the differences between the Centre and the states over the model required for introduction of the Goods and Services Tax (GST). The next meeting of the Empowered Committee of the State Finance Ministers in Goa may not give any impetus to the talks on GST, which [...]
Empowered committee asks Centre to drop the proposal of GST constitutional body
Posted by admin on October 20th, 2010
States have asked the Centre to drop two key provisions from the constitutional amendments suggested to facilitate the proposed goods and services tax, but the Union finance ministry is unlikely to accept the suggestion, indicating that the impasse over the indirect tax reform is likely to continue. In a fresh proposal Asim Dasgupta, chairman of [...]
State FMs to discuss continuation of GST council on October 30
Posted by khyati on October 11th, 2010
The empowered group of state finance ministers will discuss the constitution of goods and services tax (GST) Council and dispute settlement mechanism at its meeting on October 30. Earlier, Finance Minister Pranab Mukherjee had said the proposed GST Council would only be a recommendatory body and all decisions would be taken only after consensus. The [...]
MP sticking to its tax formula may further delay GST rollout
Posted by khyati on October 7th, 2010
BJP-ruled Madhya Pradesh asserted that the states will not allow the Centre to impose any tax which hampers their autonomy, a development that may further delay implementation of the Goods and Services Tax. “We would not allow the Centre to impose sales tax. That’s our domain and would impact our autonomy,” Madhya Pradesh finance minister Raghavji, whose GST model was rejected by the Centre, said.
