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 »
 How different forms of gold are taxed
 Should you use home sale value to get tax break
 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

Cabinet nod for Goods and Services Tax Council, Secretariat
September, 13th 2016

The constitution of the Goods and Services Tax (GST) Council with the Finance Minister of Indiaas its chair was approved on Monday, with powers to recommend the indirect tax rate and establish a disputes redressal mechanism, among other matters.

The decision was taken at a cabinet meeting presided over by Prime Minister Narendra Modi, soon after the President gave his assent to the relevant Constitution amendment bill, followed by a notification in the official Gazette -- that also took effect on Monday.

"The GST Council will consist of the Finance Minister, Minister of State of Revenue (both from the central government) and state finance ministers," Principal Spokesperson for the Government of IndiaFrank Noronha said, soon after the cabinet meeting.

In effect, the empowered committee of state finance ministers on GST will be co-opted into the council.

"The GST Council Secretariat costs will be borne by the central government. GST implementation steps are ahead of schedule so far," Noronha added. "The GST Council Secretariat shall be manned by officers taken on deputation from both the central and state governments."

The secretariat will work out of the national capital. Officials said Finance Minister Arun Jaitley has already convened the first meeting of the GST Council over two days from September 22 in New Delhi.

Apart from recommending the tax rate and the mechanism to resolve disputes, the council will also make suggestions in areas such as goods and services that may be exempted, model laws and rules on the subject, special rates during adversities and special provisions for some states.

The GST is a pan-Indiaindirect tax that proposes to subsume most central and state taxes such as value added tax, service tax, central sales tax, excise duty, additional customs duty and special additional customs duty, into one pan-Indiatax.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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