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    News
    All› GST › GST - 2016
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    December 28, 2016
    Preview of Return and Payment Modules GST
    Show AI Summary
    GST portal prototype: dashboard, GSTR 1/2/3 workflows, invoice reconciliation and multiple challan payment modes.
    Prototype preview of the GST Portal's Return and Payment modules showing a taxpayer dashboard with ledger balances, mismatch reports and links to prepare, upload and file returns. It presents GSTR 1, GSTR 2 and GSTR 3 workflows with invoice add/amend functions, credit/debit notes, imports/exports entries, HSN/SAC summaries, reverse charge and ITC reconciliation features. The payment module supports challan generation and multiple modes (e payment, over the counter, NEFT/RTGS), payment tracking and utilization of cash and input tax credit.
    December 26, 2016
    Finance Minister: There is a need for move towards a mindset of voluntary compliance and payment of legitimate taxes should be considered as part of the process and nobody should think that tax evasion is acceptable;
    Show AI Summary
    Voluntary compliance: emphasise tax payment responsibility and central-state coordination for smooth GST administration through trained officers.
    Move towards a mindset of voluntary compliance and recognition of payment of legitimate taxes as a civic responsibility is urged; payment of due tax is the responsibility of every citizen. Central-state coordination for a smooth transition to the Goods and Services Tax is essential to prevent taxpayer hardship. IRS (C&CE) officer trainees are tasked to be efficient, credible and to implement the new indirect tax administration, while NACEN's training and infrastructure development support that administrative objective.
    December 24, 2016
    Got clarity on GST law: Telangana FM
    Show AI Summary
    GST compensation mechanism assured periodic revenue relief and adjustment grants; state also sought smaller currency denominations.
    The finance minister described the GST compensation framework as providing periodic disbursements to offset state revenue loss and an adjustment mechanism to supply a grant if compensation needs rise. He also sought release of the state's pending currency instalment in smaller denominations, compared expected and received currency shares based on GDP contribution, and conveyed proposals to improve state and central revenues.
    December 24, 2016
    GST Council makes headway on bills, stuck on taxpayer control
    Show AI Summary
    Dual control of taxpayers under GST: allocation of taxpayer oversight remains unresolved, delaying finalisation of related statutes.
    The Council deferred final determination of dual control over taxpayers between Centre and states under Integrated GST, while advancing mirror Central-GST and State-GST drafts. It adjusted the compensation payment schedule to bi-monthly and allowed additional tax sources to fund state compensation. Outstanding matters include allocation of taxpayer oversight-controversially including turnover-based criteria proposed by some states-and final legally vetted drafting for IGST and compensation provisions before legislative approval.
    December 19, 2016
    Report on the Revenue Neutral Rate and Structure of Rates for the Goods and Services Tax (GST)
    Show AI Summary
    GST recommended RNR 15-15.5% with a dual-rate design to protect revenue, simplify taxation, and curb exemptions.
    The report recommends a combined national Revenue Neutral Rate of 15-15.5% (preferring 15%) and a pragmatic multi-rate design: a lower combined rate around 12% (6% centre + 6% states), a standard combined rate about 17-18%, and a combined demerit rate near 40% for specified luxury/sin goods. It urges a narrow, common exemptions list, phase-out of CVD/SAD and area-based exemptions, compensation rules for States during transition, and careful monitoring to contain inflation and improve compliance.
    December 15, 2016
    Bring land, realty, power under GST fold
    Show AI Summary
    Inclusion of land and real estate under GST could enable input tax credit flow and aid anti-black money measures.
    Inclusion of land, real estate and electricity within the GST framework is recommended to reduce black money by enabling the flow of input tax credit and improving transparency; states may retain stamp duty while sales of immovable property would be subsumed into GST to allow credit flow. Bringing power into GST is urged to make electricity more competitive through input credit; this policy is presented alongside a preference for a simple, low-rate GST structure as a complement to anti-black money efforts and to address high-risk informal transactions in realty and power.
    December 14, 2016
    Report Card on GST Implementation; Government of India lost no time in implementing the GST so far; Discussions in GST Council have been very cordial and all decisions till now have been taken by consensus; Members of the Council are participating in the meetings with a very positive attitude and are working towards the roll-out of GST as per the deadline.
    Show AI Summary
    GST Council recommendations set thresholds, composition exclusions, compensation financing and rate bands with cess for rollout.
    Under Article 279A the GST Council was constituted to recommend GST scope, exemptions, threshold limits and rates; it has by consensus set exemption and composition thresholds, excluded services from composition, approved a State compensation mechanism based on a prescribed base year and growth assumption, endorsed draft Rules on registration, payment, returns, refunds and invoicing (allowing minor post-approval changes), required taxation of existing indirect tax incentives unless continued by State/Central decision via reimbursement, and prescribed rate bands plus an additional cess on select goods to finance compensation while establishing timelines for laws, IT systems, and training for rollout.
    December 12, 2016
    GST Council meet inconclusive; Apr 1 target unlikely
    Show AI Summary
    Dual control of assessees unresolved, jeopardising GST rollout timetable and prompting states to seek later implementation.
    Contention over dual control of assessees prevented finalisation of the GST draft legislation at the GST Council meeting; approximately 99 of 195 sections were discussed and several clauses require redrafting. Lack of consensus between Centre and states on allocation of assessment authority has made the previously envisaged rollout timetable uncertain, prompting states to propose a later implementation window while the Centre reiterated its commitment and scheduled a further meeting to resolve outstanding structural issues.
    December 3, 2016
    Constitutional compulsion to roll out GST from Sep next: FM
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    Constitutional compulsion for GST implementation compels timely rollout and consolidation of indirect tax assessments.
    Constitutional compulsion requires enactment of a Goods and Services Tax by the end of the permitted transition period under the amendment because continuation of the prior indirect tax system is time limited; absent GST the existing framework would lapse. The piece also notes reform priorities: widening the tax base, simplifying rates, consolidating assessments so one authority's assessment is accepted across jurisdictions, and the practical importance of state cooperation for investor confidence.
    December 2, 2016
    Demonetisation, GST to create cleaner economy
    Show AI Summary
    Demonetisation and GST expand the formal tax base and digitise transactions, aiming to reduce tax evasion and boost growth.
    Demonetisation and GST are described as coordinated measures to enlarge the formal tax base, promote digitised expenditures, improve transaction traceability, reduce tax evasion, and bring more funds into the banking system; penalties on unaccounted money are identified as an additional inflow. Short-term disruption from currency withdrawal is acknowledged (about a quarter), but medium- to long-term benefits include potential lower interest rates, higher GDP, and structural changes in business and social practices following GST implementation.
    November 26, 2016
    Draft GST Compensation Law
    Show AI Summary
    GST compensation to states: five-year regime funded by a cess, with projected revenue growth at 14% and quarterly reconciliation.
    Provides a five-year compensation regime where States' compensation equals the difference between projected revenue (base year revenue grown at 14% per annum from FY 2015-16) and actual revenue from State GST and apportioned IGST, funded by a notified GST Compensation Cess credited to a non-lapsable GST Compensation Fund with provisional quarterly releases, final annual reconciliation on CAG audit, and specified exclusions and distribution rules for unutilized balances.
    November 26, 2016
    Revised Draft IGST Law - November 2016
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    Integrated Goods and Services Tax draft outlines framework for IGST and related implementation guidance in revised proposal.
    Revised Draft Integrated Goods and Services Tax (IGST) Law, dated 26-11-2016, presents a consolidated legislative proposal addressing the IGST component within the broader GST architecture; the draft text is accompanied by a downloadable PDF and an official press release summarising the revised statutory framing and implementation-related provisions.
    November 26, 2016
    Revised Draft Model GST Law - November 2016
    Show AI Summary
    Model GST Law: revised draft published to present model statutory text for implementing a goods and services tax.
    Revised Draft Model Goods and Services Tax Law dated 26 November 2016 presents a consolidated draft statutory text intended as a model for nationwide GST implementation and was published with a downloadable PDF and official press release for review by legislators, administrators and stakeholders.
    November 23, 2016
    GST Council Meeting rescheduled on 2nd-3rd December, 2016
    Show AI Summary
    Goods and Services Tax drafts undergo further intergovernmental review, prompting rescheduling to finalise the draft laws.
    Rescheduling of the GST Council meeting follows extended intergovernmental drafting and review of three draft statutes: the Model Goods & Service Tax, the Integrated Goods and Service Tax (IGST), and the Goods & Service Tax (Compensation to the States for loss of Revenue). Officers of the States and the Centre engaged in a two day meeting and resolved multiple issues, but several States requested additional time for internal deliberation; a Law Sub Committee was convened to finalise drafting prior to Council consideration.
    November 19, 2016
    Cabinet Secretary Shri P.K. Sinha: Goods and Services Tax (GST) is an important milestone in the concept of cooperative federalism where the Centre and the States have come together to address an important national issue of complex indirect tax regime in the country; Successful implementation of GST can lead to this model of cooperative federalism being replicated in other spheres
    Show AI Summary
    Goods and Services Tax implementation emphasizes cooperative federalism and transition to seamless input tax credit for smoother indirect tax administration.
    Goods and Services Tax implementation is presented as a milestone in cooperative federalism, shifting from sectoral tax exemptions toward a system enabling seamless flow of input tax credit and consolidated tax payment. Officials were urged to achieve implementation readiness through intergovernmental coordination and stakeholder engagement, prepare for roll-out, maintain dialogue with affected sectors, and address operational queries in sectors including exports, transport, real estate, railways and airlines.
    November 19, 2016
    Government organizes a Seminar to familiarize the Senior Officers of different Departments of Government of India with important features of the GST
    Show AI Summary
    Goods and Services Tax reform: seminar to familiarise senior officials to ensure smooth transition and stakeholder education.
    An interactive seminar chaired by the Cabinet Secretary will familiarise senior government officers with the key features of the Goods and Services Tax, enabling them to educate stakeholders and manage administrative and transitional aspects. GST is presented as a major indirect tax reform designed to replace a complex multiplicity of levies by removing cascading taxation, promoting inter-state uniformity, broadening the tax base and improving compliance, with economy-wide impact requiring early stakeholder familiarisation for smooth implementation.
    November 12, 2016
    GST good economics; demonetisation is not: Basu
    Show AI Summary
    Demonetisation economics criticised as harmful while GST is described as sound reform; cash deposit and withdrawal limits imposed.
    The article contrasts GST as sound economic reform with demonetisation viewed as economically problematic, warning its collateral damage may exceed benefits; it summarises government measures withdrawing specified high-denomination notes, requiring deposits within a prescribed timeframe, imposing temporary cash withdrawal limits, and noting efforts to finalise GST implementation and jurisdictional arrangements for roll-out.
    November 10, 2016
    FM: Process of Tax Reforms will continue and pending GST issues will be resolved soon
    Show AI Summary
    Goods and Services Tax implementation announced with parallel tax reforms and assurances on depositor protections and subsidy targeting.
    Goods and Services Tax implementation and related tax reforms are the central regulatory actions announced, with pending GST issues to be resolved and parallel direct tax reforms signalled. The Finance Minister assured that small depositors exchanging demonetised high-value notes will not be harassed and emphasised measures to ensure State subsidies reach intended beneficiaries, while stressing liberalisation of foreign investment, procedural simplification, and limitations on administrative discretion to enhance transparency.
    November 8, 2016
    FAQs on GST Enrolment Procedure
    Show AI Summary
    GST enrolment requires existing taxpayers to validate legacy data and submit documents on the GST Common Portal.
    Existing taxpayers registered under specified State or Central indirect tax laws must complete electronic enrolment on the GST Common Portal to validate pre-filled legacy data and supply missing core information; enrolment is mandatory, free, common for Central and State GST, requires provisional ID/password and Authorized Signatory contact details, supports DSC or Aadhaar E-sign for electronic signature (mandatory for companies/LLPs), issues an ARN on signed submission, allows amendments after the appointed date, and may be rejected for incorrect or fraudulent submissions with a right to be heard.
    November 8, 2016
    GST portal goes live, GSTN software almost ready
    Show AI Summary
    Goods and Services Tax rollout: new integrated portal enables unified return filing and multiple online payment modes.
    The portal launch establishes the IT backbone for the Goods and Services Tax, enabling consolidated monthly returns and online tax payments via multiple electronic modes. GSTN is finalising software and hardware, building four data centres for secure hosting and recovery, and will generate PAN based provisional GSTINs to migrate VAT, service tax and excise taxpayers, followed by integrated testing before full rollout.

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      GST

      GST Council meet inconclusive; Apr 1 target unlikely

      December 12, 2016

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      New Delhi, Dec 11 (PTI) With the Centre and states again failing on Sunday to sort out contentious issue of dual control of assessees, the Goods and Services Tax (GST) rollout from April 1 next year is now looking virtually impossible.

      The 6th meeting of the all-powerful GST Council was slated to decide on dual control of assesses but the two-day meeting was curtailed to half and even Sunday that issue couldn't be discussed because all the time was lost in going clause by clause of the voluminous draft legislations.

      While Finance Minister Arun Jaitley did not categorically said that the April 1 target date would be missed, states like Kerala and Tamil Nadu said that meeting the deadline was not possible and GST could be rolled out from September.

      "In the draft legislation there are about 195 sections.

      So it is the core bill of the legislation. We discussed 99 sections and a few clauses need to be redrafted. We would change that during the course of time. Hopefully, in the next meeting we would be able to clear the legislation part," Jaitley said.

      The next meeting of the GST Council is scheduled for December 22-23.

      Kerala FM Thomas Isaac said demonetisation has eroded states trust. "April 1 deadline is out of picture, GST can be rolled out only by September".

      Tamil Nadu also said that April 1 target was not possible.

      "Too many sections of law yet to be finalised, GST can't happen without consensus on dual control," Tamil Nadu Finance Minister said after the meeting.

      Jaitley, however, said that Centre stands by the April 1, 2017 target of implementing the GST.

      "We do not have the discretion of time. By September 16,2017 the curtains will draw on the old taxation rules," Jaitley said. .

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