GST is an important framework. Today, there are 5,500 companies listed in the BSE. It would not be surprised in the next ten years, if more than 10,000 companies are listed in the BSE," said stock exchange's Managing Director and Chief Executive Officer Ashish Kumar Chauhan. (Source:http://profit.ndtv.com/news/market/article-under-gst-bse-listed-companies-may-go-up-to-10-000-in-ten-years-1465987)
GST UPDATE_24.09.2016
Senior IAS officer Mr. Arun Goyal has been appointed as Additional Secretary in the Goods and Services Tax (GST) Council. The Council, headed by Finance Minister Arun Jaitley, is mandated to decide on tax rate, exempted goods and the threshold limit. The Appointments Committee of Cabinet has approved Goyal's appointment against the newly created post, … Continue reading GST UPDATE_24.09.2016
GST UPDATE_1st Meeting of GST Council ends
Some key points of the meeting: (1) Threshold limit for exemption: a) North Eastern states: Rs. 10 lakhs b) Other states: Rs. 20 lakhs (2) Control Jurisdiction: a) Services: Central Authorities b) Goods: Based on turnover i) Turnover below Rs. 1.5 crores: States ii) Turnover above Rs. 1.5 crores: Both Centre and States (3) Next … Continue reading GST UPDATE_1st Meeting of GST Council ends
WHETHER THE UNION GOVERNMENT CAN STILL LEVY EXCISE DUTY ON GOODS AFTER BRINGING SECTION 17 OF THE CONSTITUTION (101ST) AMENDMENT ACT, 2016 INTO FORCE W.E.F 16.09.2016?
A doubt has arisen whether the Union Government is still competent to impose Central Excise Duty on all goods barring petroleum products and tobacco after bringing into force with effect from 16 September, 2016 the provisions of Section 17 of the Constitution (101st) Amendment Act, 2016 and whether the Union Government’s levying the tax from 16th September, 2016 … Continue reading WHETHER THE UNION GOVERNMENT CAN STILL LEVY EXCISE DUTY ON GOODS AFTER BRINGING SECTION 17 OF THE CONSTITUTION (101ST) AMENDMENT ACT, 2016 INTO FORCE W.E.F 16.09.2016?
GST_101st Constitution Amendment Act, 2016_Notification dated 16.09.2016 has left various doubts
Vide Notification dated 10.09.2016 the central government using the powers vested under section 1(2) appointed 12.09.2016 as the date on which the provisions of section 12 of the constitution (101st) amendment act shall come into force... On the other hand, Section 1 of the said amendment Act has been brought into force w.e.f. 16.09.2016, vide … Continue reading GST_101st Constitution Amendment Act, 2016_Notification dated 16.09.2016 has left various doubts
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