Goods and Services Tax – GST – By: – Dr. Sanjiv Agarwal – Dated:- 13-12-2016 Last Replied Date:- 13-12-2016 – The GST Council has had six meetings so far. They plan big but perform short. On last three occasions, its meetings were scheduled for two days but concluded in just one day each. Their seriousness and lack of home work can be gauged from the very fact they have not even vetted the draft laws in last three sittings. Till yesterday's meeting, they could read down only first 99 provisions out of 195 sections of GST law. Moreover, IGST law and State's Compensation Bill are also there to be gone through. Since the Bills have not been discussed fully, there is no question of their being presented before Parliament in the ongoing
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financially. Already lot of people's money has flown so far into the making of GST law by various quarters, not just Government, GST's impact – positive or negative will affect economy, more so in post demonetization regime. With lesser time with every day passing by till September 2017, the date by which India needs to roll out GST, it will become challenging as well as risky for the nation. With next elections also narrowing down in time terms, Government's will may also be at test. States and centre are locked on contentious issue of dual control, i.e., who will 'tax and monitor' whom. Further, in post demonetization scenario, amount of compensation has become an issue -States claim, and may be right in doing so, tha
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all partymen trying to show down each other. While centre can be blamed for improper management, opposition's non-agreement is also unwanted to large extent. It is not that there could be no solution. They should all agree, sooner the better or else 16th September will come after which all present indirect taxes which are to be subsumed in GST can not be levied and we can not also go back to old taxes unless constitutional changes are reversed. That would be suicidal. – Reply By Suryanarayana Sathineni – The Reply = Dear Sir, You are right and in the worst scenerio, they may take shelter under Section 20 of the Constitutional Amendment Act to overcome this problem. As opined by you,Technically no more indirect taxes from that date. But
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