Contact us   Feedback   Annual Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

THE MOST POPULAR CONSTITUTIONAL AMENDMENT BILL PASSED IN RAJYASABHA

Goods and Services Tax - GST - By: - Monarch Bhatt - Dated:- 10-8-2016 - Yes, I call it as the most popular constitutional amendment bill in the history of India since Independence and I think so it s popularity will not be beat by any future constitutional amendment bill unless constitutional amendment bill for reservation will get announced!!! Why is this so popular even amongst the general public? Because it has been in discussion since long? or because since it is delayed? or because of the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

n 03/08/2016 with clear majority of 203 members. Now, it is just few steps away wherein, probably by 12/08/2016 again it will be presented before the loksabha as it was amended after it was passed by loksabha then in next stage it has to be ratified by at least half of the state assemblies i.e. 15 state assemblies and then finally will be forwarded for the assent of the president to become it as constitutional amendment. The constitutional bill passed by the Rajyasabha with amendment has followi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ndatory by its replacement with the use of words parliament shall, by law, . Hence, Centre has given the assurance to states to compensate for the loss of revenue. 1% ADDITIONAL TAX SCRAPPED: The 1% additional levy has been scrapped. The clause 18 of the bill was providing for additional 1% tax on supply of goods and services and it was supposed to be used by the Centre to pay it to the states from where supply of goods and services were originated. The clause 18 has been completely omitted as C .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

such additional tax at all. Hence, it is welcome move and from day one of the introduction, it was objected as it was against the principal of GST as it was lead to the dual taxation as well as instead destination based it was also taxing origin based. DISPUTE RESOLUTION FORUM: The Goods and Service Tax Council will adjudicate the disputes instead by judiciary wherein, such disputes are between (a) Centre Versus states (b) One states versus Another State (c) Centre and states versus states. Suc .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version