Implementation of GST in India

The BJP government at the centre had targeted the implementation of GST from April 2016. However, there has been a delay in the passing of the GST bill in the Parliament. The chances of getting the bill passed in the Winter-session of the Parliament are also looking bleak. This delay will cause the GST implementation[…]

Expectations from this winter session of Parliament

The winter session of the Parliament which began on the 26th of November will have 20 sittings spread across 28 days. There are 38 legislative items including seven new bills to be discussed and passed during the winter session which ends on 23rd of December. Out of the 38 agenda items, 24 are on the[…]

Indian GST and OECD guidelines

The Organization for Economic Co-operation and Development (OECD) was founded in the year 1961 to help stimulate world trade and spur economic progress. It has 34 countries in its fold, with many more seeking accessions. The prominent among the member countries are the US, UK, Germany, Canada, France, Italy, Spain, Australia and New Zealand. In[…]

Changing stance of Congress on GST

There is a strong feeling emerging in the political arena that the Congress is softening its stand on the GST issue. There seems to a change from the outright violation of proceedings of the house in the Parliament to a stance of a proper discussion on the issue. The Congress is now coming out with[…]

Implement GST at the Centre followed by States

GST was thought up and conceived for the Indian economy by the NDA regime. The UPA was only working on the drafting on the legislation. The work was so lethargic that the bill was introduced in the LokSabha in 2011, a full seven years after the UPA assumed power. It was referred to the standing[…]

Way Forward for GST implementation

The deadline for GST implementation has been set for April 2016 by the Government. It is a good leadership aspect to keep the target in sight. However achieving the target requires the government to run and win the GST hurdle race. The roadblocks are becoming clearer by the day. To sail over them smoothly there[…]

Who should take GST responsibility – Centre or States?

The states of the Indian economy have a legacy of being hand held by the Centre. They look to the centre for financial support whenever a calamity strikes or there is a drought in the state. The thought is no different in case of the GST reform. The states are of the view that GST[…]

The path ahead with the GST bill

The path ahead with the GST bill

Given the present circumstances the constitutional amendment for the introduction of GST is likely to take time. The government has set a deadline for launching it by April 2016 and is making every effort to get the activities closed in time. However, with a bill of this magnitude and wide ranging impact on the Indian[…]

GST can be implemented from April 2016 ?

Is the GST bill is coming or not, is not the discussion point any more. Today, most of the parties are in support of the amendment. Since it has wide ranging implications there are definitely some issues relating to its formulation. With the benefits that are likely to accrue for the economy, a few compromises[…]

GST in the political veil

Rahul Gandhi is supposedly learning from the practical experience that being decent in the Parliament does not help in any way. The Congress party had supported the Insurance bill in the budget session of the parliament earlier this year. They were following the path of least resistance and found that they were not in any[…]

GST – Impact on Indian Economy

There is a lot of expectation from the Indian government with regard to the introduction of the Goods and Services Tax, or GST. Currently we have the Value Added Tax applicable only on the goods, and Service Tax that is imposed on select services. GST is an attempt to combine them under a common head.[…]

Recent Political Drama on GST bill

The Indian government led by Prime Minister Narendra Modi made a number of efforts during the recently concluded parliament session to bring the opposition Congress party on the discussion table for the GST Bill. But it seems that the Congress was bent upon shouting in the well of the house and staging walkouts and not[…]

Challenges for GST implementation

The Goods and Services Tax (GST) will subsume all indirect taxes and would ensure seamless flow of goods and services across the country. As the name suggest, GST will be levied on both Goods (Manufacturing and Trading) and Services. GST will replace more than a dozen type of taxes including service tax, central excise duty,[…]

GST Select Committee

SELECT COMMITTEE ON GST BILL – AN UPDATE During a debate in the Lok Sabha, the Finance Minister Shri Arun Jaitley earlier rejected opposition demand for sending the GST Constitutional Amendment Bill to Standing Committee on grounds that the move would unduly delay the GST rollout scheduled on April 1, 2016. The Constitution (122nd Amendment)[…]

GST Milestones

​Year 2000· Vajpayee Government started discussion on GST by setting up an empowered committee. The committee was headed by Mr. Asim Dasgupta, (Finance Minister, Government of West Bengal). It was given the task of designing the GOODS and SERVICES TAX (GST) model and overseeing the IT back-end preparedness for its rollout. Year 2007· An announcement[…]