sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Service Tax »
 Auction of Government of India Dated Securities November 12, 2018
 Auction for Sale (Re-issue) of Government Stock (GS) November 12, 2018
 How can I save tax on gains made on selling a shop a
 Here's is a quick guide to how you can save tax on gifts
 Don't buy life insurance just for saving tax, ask these 4 questions before investing
 E-tailers caught between state laws & penalty on tax
  Central Goods and Services Tax (Eleventh Amendment) Rules, 2018
 Central Goods and Services Tax (Twelfth Amendment) Rules, 2018
 The Central Goods And Services Tax (Amendment) Act, 2018
  How much tax are you liable to pay on long-term capital gains on property?
 Finance Ministry simplifies GST refund claim process for businesses

Centre, States can levy taxes for one year after GST notification: Jaitley
October, 01st 2016

Laying to rest doubts on the government’s powers to levy indirect taxes after the notification of the Constitution Amendment Act for the goods and services tax regime, Finance Minister Arun Jaitley said that the new legislation empowers the government to continue levying excise duty, service tax and value added tax (VAT) till September 16, 2017.

“Until one year after the provisions of the Constitution (101st Amendment) Act, 2016 is brought into force, the Constitution empowers the Central Government to levy excise duty on manufacturing; and service tax on the supply of services,” he informed the Parliamentary Consultative Committee attached to the Ministry of Finance on Friday.

He further added that the Constitution Amendment Act similarly also empowers the State governments to levy sales tax or VAT on the sale of goods till that time for the same time period.
`
His comments come after there were questions over the legality of levying excise duty and services tax when provisions of the Constitution Amendment Act for GST had been notified on September 16.

At that time, after discussions with the Law Minister, Revenue Secretary Hasmukh Adhia had said there is “no legal infirmity” in the notifications.

Rollout as per schedule

Meanwhile, in his opening remarks at the meeting, the Finance Minister also expressed confidence that GST will be rolled out from April 1, 2017, adding that the government is following the road map for implementation of indirect tax levy as per the schedule.

Jaitley also assured the Committee that the GST Council is working in a cordial environment.

Members of the Committee also made suggestions and sought clarifications on GST.

“The members hoped that this law will bring relief to the common man by exempting certain essential items from GST and moderate the rate of taxation on other items which in turn will bring down the prices consumption items of the common man as well as cost of living at large,” said an official release.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions