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SKP GST News
CBEC preparing blueprint for HR restructuring for GST
The human resource wing of the Central Board of Excise and Customs (CBEC) has started working on a blueprint for 
administrative restructuring of the department to prepare it for implementing the proposed GST which will subsume most indirect taxes. The Directorate General of Human Resource Development (DGHRD) has been directed to 'initiate the exercise of formulating a proposal' for administrative restructuring of the formations under CBEC in the 'ensuing GST regime', the CBEC said in a communication to its top officials.

Source: Moneycontrol dated 1 February 2016

Congress should see reason, help GST pass, says Jaitley
Finance Minister Arun Jaitley hoped the Congress will see reason and help in the passage of the GST legislation, currently stuck in Rajya Sabha, in the Budget session of Parliament beginning next month. “I don't see a reason why they (Congress) should have a rethink on the Bill. If there is a discussion on a particular idea in the Bill, I am willing to discuss with them... certainly, we can't bound future generations to a flawed legislation," Jaitley said.

Source: Business Standard dated 30 January 2016


GST's network effect
As politicians argue fiercely and persistently over the nitty-gritty of this long-awaited and ambitious indirect tax reform that promises to make India a common market, the organisation responsible for creating and managing the complex IT backbone that will make GST operational, the Goods and Services Tax Network (GSTN), has moved into their flashy new headquarters at Worldmark I, part of a vast commercial 
multistorey chain owned by Sunil Mittal-promoted Bharti Realty.

Source: Business Standard dated 28 January 2016


Apply GST on factory price of textiles: Industry
The textile industry in India has warned the government that if GST is levied on maximum retail price (MRP) as proposed, it would have multiple ill effects on the entire sector. The textile industry has recommended the government to levy GST on ex-factory price, which is always much lower than the MRP, as it would leave some room for periodic discount offers. The textile industry offers heavy discounts on MRP of branded garments, not only in their factory outlets but also in organised retails to attract business.

Source: Business Standard dated 27 January 2016


ACMA stresses on early implementation of GST
The Automotive Component Manufacturers Association (ACMA), the apex body for the Indian auto-component industry, has urged the government for early implementation of GST. As part of its recommendations for the upcoming Budget, The ACMA also sought the government's support in achieving a USD 200 billion 
turnover from the existing USD 38.5 billion as stated in the Automotive Mission Plan 2026. "We expect the forthcoming Budget to lead to creation of a favourable and stable policy environment to enable growth and development of the domestic auto sector," ACMA President Arvind Balaji said in a statement.

Source: Business Standard dated 27 January 2016


Cabinet reshuffle likely to push Jaitley out of finance: Reuters
Finance Minister Arun Jaitley may soon be moved out from the crucial ministry, Reuters reported. Power and Coal Minister Piyush Goyal is likely to replace Jaitley who may be moved to the defence ministry. The reshuffle may take place post the annual budget on 29 February, according to the Reuters report. This will be the first major 
reshuffle for the Narendra Modi-led NDA government since they came to power in May 2014.

Source: Business Standard dated 22 January 2016


Did you know?
Manner of utilising input tax credit in GST
Tax payable to government CGST SGST IGST
Credit permitted
(in the following order)
CGST
IGST
SGST
IGST
IGST
CGST
SGST
Note: CGST - Central GST, SGST- State GST, IGST- Integrated GST
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