GST becomes reality: Rajya Sabha passes bill
The Dollar Business Bureau Ending over a decade-old stagnation over the passage of the Goods and Services Tax (GST), the parliament on Wednesday passed a constitutional amendment on bringing out a uniform indirect tax regime across the country with the thumping majority. The country’s new transformative tax reform law, as hailed by Prime Minister Narendra Modi and various other key political stalwarts, in addition to several business honchos, is slated to stimulate the economy, enhance exports, promote Make in India and facilitate ease of doing business in the country. Right after all the parties, except the AIADMK, voted in favour of the GST bill, Prime Minister Narendra Modi took to twitter to thank the opposition parties for their support. “On this truly ...
GST panel's proposed tax rate evokes positive response
Industry bodies like FICCI, ASSOCHAM and PHDCCI have welcomed the Chief Economic Adviser Arvind Subramanians proposed tax rates under GST system Deepak Kumar |The Dollar Business Bureau The government aims to implement the GST from April 1, 2016 Several industry experts on Monday welcomed the GST Councils proposed tax rate and said the recommended tariff under the uniform tax regime would bring transparency and competitiveness in the Indian market, thus benefitting traders as well as consumers. The government aims to implement Goods and Services Tax (GST) system from April 1, 2016. However, the bill seeking amendments in the constitution for enforcing the tax reform is yet to be cleared from the Rajya Sabha. The GST Council set up by the government has proposed ...
