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BASIC CONCEPTS OF GST (PART- 11)

Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 11-3-2016 - Steps Involved in GST Introduction Following steps are needed on political, administrative and technological fronts for smooth implementation of GST: Constitutional amendments (pending in Parliament (Rajya Sabha); Standing Committee Report submitted; draws opposition from Congress) Drafting of GST law (process started) Strong political commitment (looks a distant reality in present political set up). Arriving at common .....

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n of issues to be resolved (almost done) Interaction with trade and industry and others stake holders concerned (being held but need to be up scaled) Building up GST infrastructure and administrative machinery (GSTIN formed as a company, IT company identified) Establishment of information technology systems, software and enabling environment (GSTN has started working) Adequate investment in creating administration, providing training and public education and awareness programme. Dissemination of .....

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ces decision to introduce VAT in India. Formation of Empowered Committee on VAT 2002 Task Force on Indirect Taxes report headed by Kelkar CENVAT introduced on all commodities at central level 2003 VAT introduced in first Indian State of Haryana 2005 VAT in 24 States/UTs including Punjab, Chandigarh, HP, J&K and Delhi. 2006 VAT implemented in 5 more States including Rajasthan. 2007 FM announces GST introduction in India from April 01, 2010. Parthasarathi Shome submits a study paper on GST. Em .....

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Empowered Committee release First Discussion Paper on GST in November. Report of Task Force on GST of 13th Finance Commission in December Report of 13th Finance Commission (TFC) (Chapter 5 on GST) in December 2010 Proposed date to introduce GST in India postponed to April 01, 2011. 2011 Government introduces Constitution Amendment Bill on GST in Lok Sabha 2013 Parliament Standing Committee submit reports on GST Constitutional Amendment Bill Standing Committee recommendations incorporated in Bil .....

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