5 senior bureaucrats to receive training on GST implementation
The GST Bill is still pending in the Parliament but the AAP government’s first team of five senior bureaucrats is all set to receive a five-day extensive training on the implementation of the proposed legislation. These bureaucrats will be trained by senior Union Government officers in Faridabad. The training schedule for the implementation of the GST Bill is being coordinated by the National Academy of Customs, Excise and Narcotics and will have a three-level rollout.
Source: The Asian Age dated 11 July 2016
Congress hints at dropping key GST demand
The gap between the Congress and the government over the GST Bill might be narrowing. The main opposition has indicated that it might relax a key condition - the tax rate being written into the Constitution amendment - as long as there are firm legal commitments to a rate that the Congress views as reasonable and viable. Deputy leader of opposition in Rajya Sabha Anand Sharma suggested that the Congress may not insist on the inclusion of an 18% tax cap in the bill - one of three conditions the party has put forward and which has held up passage of the legislation for more than a year.
Source: The Times of India dated 10 July 2016
CBEC forms panel to iron out differences over GST
In order to iron out administrative differences between the Centre and the states over the proposed GST regime, the Central Board of Excise and Customs (CBEC) formed a committee to identify the key concerns and sort them out through dialogue. The issues include administrative threshold as well as revisionary powers. “There are a lot of square brackets or what are called unresolved issues with respect to the proposed GST, which may create hassle for the taxpayers. Therefore, the committee has been formed to look into each of these issues and take them up with the states,” said a government official.
Source: Business Standard dated 8 July 2016
Tax reforms: Govt to introduce GST Bill on the first day of monsoon session
The government has decided to introduce the GST Bill on the first working day of the monsoon session of Parliament, in what could be a sign of its confidence that it can notch up the numbers for the long-pending legislation. Earlier, the Bill was listed for business in the middle or end of the sessions in view of the apprehension that a confrontation with the opposition could derail the other business agenda of the government.
Source: Indian Express dated 8 July 2016
GST Bill to be passed in monsoon session, say new MoS Finance
Newly appointed junior ministers in the Finance Ministry expressed hope that the Constitutional Amendment Bill on GST will be passed in the upcoming monsoon session of Parliament and they will look at ways to accelerate economic growth, currently pegged at 7%-7.75% for 2016-17. "The entire world is looking at how India is going to act. I feel that GST will certainly be passed by the Parliament in the monsoon session," Santosh Gangwar told reporters after his taking charge as the Minister of State for Finance.
Source: Business Standard dated 6 July 2016
Did you know?
As per the Model GST Law, every supplier shall be required to get registered under the Act in the state from where the taxable supplies of goods and/or services have been made. The registration shall be mandatory if the aggregate turnover in a financial year exceeds the following threshold limit:
Additionally, the Model GST Law also provides for Schedule III wherein a list of persons have been specified who have to obtain mandatory registration under the Act irrespective of the threshold limit (i.e. input service distributors, aggregators, electronic commerce operators, non-resident taxable persons, etc.).
- INR 900 thousand - Other states
- INR 400 thousand - North-East states including Sikkim