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Goods, services tax roll-out may miss April 2011 target: Pranab It is official now. The country may miss the April 1, 2011 deadline for adopting a dual goods and services tax (GST) system. The Finance Minister, Mr Pranab Mukherjee, has now conceded that it may not be possible to introduce GST from April 1 next year. The main bottleneck in achieving this major tax reform is the absence of consensus between the Centre and the States on the required Constitutional Amendment for introduction of GST. 2010-09-02 22:19:51
Change GST model to get over constitutional impasse Even with all the compromises and exhortations from the Finance Minister, there is a situation in regard to GST which has all the elements of a cul de sac. The more the FM concedes, the more demands are coming for concessions from the States. They basically ask for more power to themselves to alter the duties. Also they would like to change procedures at their will which is clear from their not agreeing on the formality of dispute resolving system. The veto power of the centre has been given up but that has not resolved the disputes. 2010-08-29 21:28:08
DTC Bill on track for implementation Unlike the Constitution Amendment Bill on the proposed Goods and Services Tax (GST) which remains mired in confusion and controversy owing to the delicate question of infringing on the fiscal autonomy of States in indirect taxation, the Direct Taxes Code (DTC) Bill is on course for implementation from April 1, 2011. 2010-08-27 03:45:50
India May Miss April Deadline to Start Goods and Services Tax, Mitra Says India may miss the April 1 deadline to introduce a goods and services tax as state governments sought more time to study the proposal, a finance ministry official said. “It is unlikely that the deadline will be met,” Revenue Secretary Sunil Mitra said in an interview in New Delhi today. “We have not been able to reach a consensus with the states on the constitutional amendment bill.” 2010-08-25 23:34:21
DMK keeps up pressure on GST CHENNAI: The DMK, a key constituent of the UPA government at the Centre, on Tuesday opposed the Goods and Services Tax (GST) and said that another round of comprehensive consultation among all States was necessary before arriving at a final decision on the introduction of the tax. 2010-08-24 22:51:51
‘GST rollout to miss April 1 deadline’ The much awaited new indirect tax regime Goods and Service Tax (GST) is unlikely to be implemented from the scheduled date of April 1, 2011, a top government official said on Tuesday.“In all probability it (the introduction of GST) will miss the deadline,” Revenue Secretary Sunil Mitra told PTI. 2010-08-24 22:38:15
Govt rolls out Rs 1K-cr sops for exporters NEW DELHI: The government handed out a Rs 1,000-crore ($214 mn) package of fresh incentives to exporters still struggling in an uncertain global market, and said it would review the situation in a few months. “We are not out of the woods yet,” said commerce and industry minister Anand Sharma, while announcing the annual trade policy review on Monday. 2010-08-23 21:16:39
Is it BJP vs GST? The goods and services tax (GST) is poised to miss its deadline, yet again. This time around, the BJP-ruled states have asked for one months’ time to study a revised bill to amend the Constitution to herald the tax. The government of Tamil Nadu, ruled by the DMK, a partner of the ruling coalition, too has decided to break ranks with the states that want to go ahead with what would be independent India’s most significant tax reform. 2010-08-23 21:13:19
Sops doled out for exporters The government today extended sops worth Rs 1,052 crore to exporters, particularly for the labour-intensive textile, handicrafts and leather sectors, to help them see through the fragile economic recovery globally. "We are not yet out of the woods," Commerce and Industry Minister Anand Sharma said while extending the schemes like DEPB, under which taxes are reimbursed to exporters, subsidised interest and sops for import of capital goods. 2010-08-23 21:10:23
Govt won't let GST impasse stay for long NEW DELHI: The goods and services tax could make a debut in the middle of next year as the government doesn’t seem to be in a mood to delay the ambitious indirect tax reform by another year. Its planned rollout from April next year now looks uncertain due to opposition from BJP-ruled states, which fear an erosion of their fiscal autonomy. 2010-08-22 22:55:40
