Focus on GST exemptions and IT readiness: Finance Ministry to industry
"The remarkable part of the GST journey is the impressive convergence between states on a host of issues. I would suggest industry to look at critical exemptions and IT platform readiness rather than stressing too much on date of GST implementation as this can hamper preparedness," said Central Board of Excise and Customs (CBEC) Member V S Krishnan at a CII event.
Source: The Economic Times dated 29 September 2015
Haryana Finance Minister part of delegation to visit Australia to study GST implementation
Kerala's finance minister K M Mani along with his team left for Australia on 26 September 2015. Before leaving for Australia, Haryana Finance Minister Captain Abhimanyu said the Indian delegation was visiting the country as GST had been implemented in a better way in Australia and New Zealand.
Source: The Times of India dated 27 September 2015
Infosys will finish GST network before April 2016: Vishal Sikka
The government recently appointed Infosys to design the IT network for Goods and Services Tax, which will make India a common market with a uniform levy. Infosys will develop both the hardware and applications for GST, and provide end-to-end deployment for GST network. The existing tax systems for state VAT will be integrated in the current network.
Source: Bloomberg TV India dated 27 September 2015
States seek right to tax business-to-business transactions
The goods and services tax (GST) is facing fresh turbulence related to a key component of the framework - the rules that will decide where goods or services are to be taxed - potentially impacting the rising e-commerce and e-delivery business. This would disrupt the flow of input tax credit and lead to dual taxation, issues that are already plaguing the e-commerce sector.
Source: The Economic Times dated 25 September 2015
Did you know?
It was found in Malaysia that a total of 11,000 complaints regarding GST were received in the first 17 days post GST implementation.
Source: Free Malaysia Today dated 19 April 2015