IMPLEMENTATION OF GST STILL SAILING IN BOATS OF UNCERTAINTY!
By: – Pradeep Jain
Goods and Services Tax – GST
Dated:- 12-1-2017
GST DAILY DOSE OF UPDATION BY CA PRADEEP JAIN:-
IMPLEMENTATION OF GST STILL SAILING IN BOATS OF UNCERTAINTY!
The eighth meeting of the goods and services tax (GST) council held on Wednesday yet again ended on an uncertain note, effectively ruling out the possibility of implementation of GST from 1 April. In this two day meeting the outcome came out to be insignificant as the litigious issue of sharing of administrative powers was not taken up at all.
Further a new issue was raised by States of Kerala, Delhi, West Bengal, Karnataka, Meghalaya and Tamil Nadu of a rate split under GST. Instead of equ
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t laws only upto 16th September, 2017 after which there will be no taxes by Centre or State on goods and services. The amendments made in the Constitution makes it mandatory to implement GST before 16th September, 2017. But, according to section 20 of the Constitution (One Hundred and First Amendment) Act, 2016, President has been given power to remove any difficulty and so it appears that even if the GST is not implemented by 16th September, 2017, the imposition of taxes on goods and services will continue.
It is pertinent to mention that the migration of existing assessees to GST regime is in full swing as migration of VAT assessees has already been done for many States and the migration of Service Tax assessees is to commence from 09.01
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