| CBEC for less GST exemptions | 13-NOV-09 |
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| The Centre would prefer to compensate states for any losses on account of the proposed goods and services tax (GST), rather than giving exemptions, a finance ministry official said today. |
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| Haryana urges Centre to defer GST | 12-NOV-09 |
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| Haryana, which became the poineer state in launching VAT (value added tax) in the country, needs more time to prepare itself for the proposed Goods and Services Tax (GST). |
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| Industry hails GST proposals | 12-NOV-09 |
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| The Bangalore Chamber of Industry and Commerce (BCIC) has welcomed the proposals indicated in the discussion paper of Goods and Services Tax (GST) released by the Empowered Committee of State Finance Ministers on November 10. The discussion paper does not specify the time lines for circulation of model legislations, tax rates, time and place of supply rules relating to goods and services, transitional provisions, usage of forms among others, BCIC said. It, however, believes that the transition provisions as and when enacted would permit seamless carry forward of unutilised credits under MODVAT, CENVAT, VAT, etc. |
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| Price rise races past terrorism in threat perception | 31-OCT-09 |
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| India saw one of the worst terrorist attacks in November last year, when Mumbai was under siege for four days. Little under a year later, Indians perceive rising food prices as a bigger threat than terrorism. |
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| GST discussion paper not to include rates, base | 26-OCT-09 |
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| The much-awaited discussion paper on the proposed goods and services tax (GST) would not contain the rates or items to be included in the new tax regime, but only invite suggestions on procedures of tax collections, sources said. |
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| Commercial tax collection goes up marginally | 19-OCT-09 |
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| The collections of commercial taxes in Orissa increased marginally by 3.17 percent by the end of September this year, compared to the corresponding period of the last year. The first six months collection amounts to only 37.24 percent of the total target for the year. |
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| UP traders demand quarterly filing of returns | 05-OCT-09 |
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| Uttar Pradesh traders have asked the state government to allow quarterly filing of returns with the trade tax department instead of the present monthly filing. They said the monthly system not only burdened them with added paper and administrative work but also bred corruption at the lower echelons of the department. “The tax department should also abolish a separate VAT audit and check harassment of traders by mobile checking units,” UP Adarsh Vyapar Mandal President Sanjay Gupta said. |
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| Services pose another hurdle in way of GST | 05-OCT-09 |
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| “States do not have any data on services sector or experience with the levy. So that is one issue which has to be considered while finalising the GST structure,” said a senior finance ministry official. |
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| Punjab expects 10% increase in VAT collections | 29-SEP-09 |
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| Notwithstanding the current slowdown, Punjab is hopeful of registering an increase of 10-15 per cent in VAT(Value Added Tax) collection in the financial year 2009-10 over the last financial year. However, the VAT collection in the first five months of the current fiscal year is not very encouraging as the state registered an increase of only 7 per cent over the corresponding period last year. |
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| VATIKA GROUP OPENING A NEW WESTIN IN GURGAON IN MARCH 2010 | 26-SEP-09 |
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| Vatika Group today announced that it will open the Westin Hotel in Gurgaon by March 2010, seven months before the commencement of the Commonwealth Games in October 2010. The opening of the Westin Hotel will help to meet the hotel room needs for the mega event next year as the city is already facing an acute shortage of over 10,000 rooms. |
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| Dual rated dual GST | 21-SEP-09 |
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| The long-awaited meeting of the Empowered Committee of State Finance Ministers (EC) was recently held in Delhi and, as was perhaps expected, the EC has come out with a recommendation on what can legitimately be called a “Dual Rated Dual GST System”. There were expectations in certain quarters that the dual GST would be a single rated one at the Federal and the State level for both goods and services. This has not been possible and the EC has now come out with a dual rate model for goods. There has been no mention of whether there will be a dual rate for services as well but the understanding and expectation is that services will be taxed at just the one rate, at the Federal and State levels respectively. This article discusses the dual rate dual GST model for goods in some detail. |
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| Cleaning up | 15-SEP-09 |
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| Hindustan Unilever has entered the surface cleaning market with Cif. |
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| Punjab excise dept unearths fraud of Rs 2,000 crore | 15-SEP-09 |
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| As many as 170 business firms were found indulging in bogus transaction with some fake companies here to claim exemption from value-added tax (VAT) to the tune of Rs 2,000 crore, state Department of Excise and Taxation said today. |
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Content Guide
