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

PROPOSED ADMINISTRATION OF GST (PART-I)

Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 24-11-2016 Last Replied Date:- 25-11-2016 - Considering the federal structure of India, there will be two components of GST - Central GST (CGST) and State GST (SGST). Both Centre and States will simultaneously levy GST across the value chain. Tax will be levied on every supply of goods and services. Centre would levy and collect Central Goods and Services Tax (CGST), and States would levy and collect the State Goods and Services T .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ccording to the division of powers prescribed in the Constitution for which they need to raise resources. A dual GST will, therefore, be in keeping with the Constitutional requirement of fiscal federalism. Since India will follow dual model of GST and there will be three types of GST, i.e., Central GST (IGST), Integrated GST (IGST) and State GST (SGST), according to the present scheme of law, Centre will levy and administer CGST & IGST while respective states will levy and administer SGST. A .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ities/disasters, special provisions for certain States, etc. Its residual entry specifies any other matter relating to GST, as the Council may decide. Also, in terms of clause (6) of the Article 279A, while discharging the functions conferred by article 249A, the Goods and Services Tax Council shall be guided by the need for a harmonised structure of goods and services tax and for the development of a harmonised national market for goods and services. Though the role of GST Council shall be reco .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

trol. The entire number of existing assesses, proposed increase of assesses, future growth etc., may be taken into consideration while arriving at the hierarchy of administration. It is suggested that a combination of, number of assesses and the geographical area, would be required to divide the area as the number of assesses in metros/cities would be more whereas in the villages, area would be the criterion. This is required so that the assesses are served near their places. This may be on 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

structure of scrutiny should be replaced with audit and scrutiny. There shall be mutual exchange of intelligence and joint audit if agreed by the state. There shall be a working arrangement wherein if the issue has monetary implication of ₹ 5 Lakhs or the amount as fixed by the GST Council , and if the issue is non-recurrent for the assessee, then the decision of the Commissioner Appeals in such cases should be accepted even if it is not in favour of the department and with the no preceden .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

f's requirement/need to be fulfilled and further will help in meaningful re­distribution. Since India is a federal State with Union Government and various State Governments, GST will usher in a new formula of pooled sovereign powers wherein both, centre and states will jointly administer the GST law which will include harmonization of tax base, tax rates, tax administration and tax compliances / enforcement. It is expected that GST shall be administered under the overall supervision and .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

o Additional Secretary Revenue, as Member Secretary of GSTC, Member GST shall also be the Member Secretary to the GST Council for CGST and IGST related issues. Board through Member-GST may be the think tank to assist the Council in policy formulation in CGST and IGST matters. The members may have different portfolios such as - Member, GST (Secretary, GST Council ) Member, Customs Member, (IT, Policy & Infra) Member, Central Excise & Legacy Issues Member, P & V, Training Member, (P &a .....

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