GST is More Effective and Efficient Substitute for Plethora of Indirect Taxes: FM
GST
Dated:- 24-8-2012
Press Information Bureau
\nGovernment of India
\nMinistry of Finance
\n24-August-2012 17:56 IST
\nThe Union Finance Minister, Shri P. Chidambaram said that the goods and services tax (GST) is a more effective and efficient substitute for plethora of indirect taxes. The Finance Minister said that he is hopeful that the GST Bill would be passed before the end of the current financial year. The Finance Minister was addressing the Third Meeting of the Consultative Committee attached to the Ministry of Finance, here today. The subject matter of the discussion was “GST-the Way Forward'. The Finance Minister Shri P. Chidambaram furthe<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n GST implementation. The key objectives of GSTN SPV would be to provide standard and uniform interface to the tax payers, share infrastructure and services to Central\/State Governments. The common and shared infrastructure for GST would also be leveraged for providing benefits to Centre\/States, even prior to roll-out of GST. The Empowered Committee of State Finance Ministers (EC) and the Union Finance Minister endorsed the recommendations of EG on the IT strategy for GST, the structure and role of GSTN SPV, as also the selection of NSDL as technology partner for incubating SPV. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n -third majority of the States rather than on consensus basis. Similarly, issues relating to dispute settlement mechanism and exclusion of certain products from the GST system among others were also raised during the discussion. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" GST is More Effective and Efficient Substitute for Plethora of Indirect Taxes: FM GSTDated:- 24-8-2012Press Information Bureau Government of India Ministry of Finance 24-August-2012 17:56 IST The Union Finance Minister, Shri P. Chidambaram said that the goods and services tax (GST) is a more effective and efficient substitute for plethora of indirect taxes. The Finance … Continue reading “GST is More Effective and Efficient Substitute for Plethora of Indirect Taxes: FM”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-524","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=524"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/524\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nThe Members of the Consultative Committee participating in the discussion gave various suggestions relating to GST and its Network. They were of the view that GST is<\/p>\n
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\nMembers of Parliament who attended the today's Consultative Committee Meeting include Shri S.P.Y. Reddy, Shri Suresh C. Angadi, Shri Narahari Mahato, Shri W. Bhaushaeb Rajaram and Smt. Rajkumari Ratna Singh (all from Lok Sabha), Shri N.K. Singh, Shri Rajeev Chandrasekhar, Shri Rajkumar Dhoot, Shri Birender Singh, Shri Shantaram Naik, Dr. Ashok Sekhar Ganguli and Ishwar Lal Jain (all from Rajya Sabha). Shri S.S. Palanimanickam, Minister of State for Revenue, Shri Namo Narain Meena, Minister of State for Financial Ser<\/p>\n
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