Skip to content
Neeraj Bhagat & Co.
  • Home
  • Blog
  • Enquire Now!
April 8, 2020 / Goods and Services Tax (GST)

Centre States Make Headway On Key GST Issues.

images (5)

A meeting of the empowered committee of state finance ministers convened by finance Minister Arun Jaitely also agreed to include in the constitutional Amendment bill the mechanism of compensating states for any loss of revenue in first five years of GST subsuming all indirect taxation firms in India levies including VAT.

Making headway on the long pending Goods and services tax auditing firm in delhi (GST) bill the centre and states have agreed on the principle that the tax rate will be lower than the current levels even as the broad consensus emerged than the rate should not be part of the statue.

There was also broad agreement on the principle that the ordinary businessman and the common tax man will benefit from introduction of GST by way of lower tax rates while the states will not face any loss of revenue, West Bengal Finance Minister and the panel chairman Amit Mitra said after the meeting.

Post navigation

Previous Post:

Why Hiring a Business Registration Consultant is Safe for us

Next Post:

Is GST in India a Game Changer.

Drop us a message

Recent Posts

  • Legitimate Foreign Currency while travelling Abroad April 26, 2022
  • Payroll Accounting April 19, 2022
  • Updated Return under Income Tax Act April 12, 2022
  • What are Payroll Taxes? April 1, 2022
  • Taxation of Cryptocurrency in India March 31, 2022
  • Should you buy a property through a limited company? March 28, 2022

Categories

  • Business (71)
  • Companies Act (25)
  • Company Formation / Registration (5)
  • Consultant (1)
  • Direct Taxation (36)
  • FDI (7)
  • FEMA (21)
  • Foreign Investment (15)
  • Goods and Services Tax (GST) (44)
  • News (1)
  • Others (19)
  • Tax Consultancy (4)
  • Taxation (18)