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.

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. https://www.taxtmi.com/news?id=17086 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. en-us Wed, 14 Dec 2016 18:57:05 +0530 Thu, 15 Dec 2016 09:51:00 +0530 TaxTMI RSS Generator 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. https://www.taxtmi.com/news?id=17086 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. News - Wed, 14 Dec 2016 18:57:05 +0530 https://www.taxtmi.com/news?id=17086