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
General »
 Interim budget may include income tax announcements, says report
 All you need to know about tax benefits for senior, super senior citizens
 Where to invest money for the short term
 Statistics ministry seeks GST data to improve national accounts
 Country of residence may tax you on global income
 Country of residence may tax you on global income
 SC denies income tax exemption to local authority
 Composition Dealers need not furnish data in serial number 4A of Table 4 of FORM GSTR-4
 I-T Dept may probe tax evasion through F&O trades
 IL&FS crisis: ICAI seeks explanation from audit firms
 Arun Jaitley pushes for more tax filing in FY19

No problem with GST; want CST compensation on time
January, 16th 2015

Chhattisgarh has no objection on implementation of the Goods and Service Tax (GST) provided the Centre's compensation on loss due to phasing-out of Central Sales Tax is given on time, state chief minister Raman Singh said here today.

"Almost all states have given their in-principle approval to the GST. We are no different. We do not have any problem with the GST. We want that government gives us money on account of CST loss this financial year," Singh told PTI here.

The Chief Minister, along with state officials, also met Finance Minister Arun Jaitley and urged him to expedite release of the CST compensation of Rs 2,157 crore to the state.

The Finance Minister has assured that Chhattisgarh will get one-third of its balance CST compensation as first instalment this financial year and the remaining in next two years, state officials who attended the meeting said.

GST is considered to be a very significant step in the field of indirect tax reforms in the country which would amalgamate a large number of central and state taxes into a single tax. GST would replace central excise duty and service tax and subsume state VAT, central sales tax and luxury tax, among others.

The idea of moving towards GST was first mooted by the then finance minister P Chidambaram in his budget for 2006-07. Initially, it was proposed that GST would be introduced by 1 April 2010. However, several deadlines have been missed and it is yet to be rolled out.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

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