SKP Group
1 December 2015
Government digs into UPA file notings to break GST Bill deadlock
Keen on breaking the parliamentary deadlock over the GST Bill, the NDA government is scouring the file notings made by UPA Finance Ministers pertaining to the Bill to come up with solutions to the three objections of the Congress. Top sources at the Finance Ministry told The Hindu that “some direction” to proceed could be gauged “from the Congress’s own grappling with the issue.”

Source: The Hindu dated 1 December 2015 

Mayawati promises support to GST Bill
BSP chief, Mayawati, expressed her party’s unequivocal support to getting the GST Bill passed in Rajya Sabha, even as the government tries to get the Congress on board to pass the key economic reform legislation.

Source: The Times of India dated 1 December 2015

Centre, Congress to discuss contentious issues in GST Bill
Hoping to achieve a breakthrough in the deadlock over the passage of the GST Bill, a meeting between the Central government and Congress leaders is expected in the first week of December. Congress is likely to revert to the government with its position on the Bill. The government will also be responding to Congress's demands on the Bill. Both the Central government and the Congress are in touch with other parties as well for discussions on the Bill.

Source: Moneycontrol dated 30 November 2015

No government across the world has been re-elected after they implemented GST
The benefits of GST were always reaped by the succeeding government. However, despite all the noise around the centralised tax being good for the economy, Congress would want BJP to implement the GST, but not before 2017. 
Source: The Economic Times dated 28 November 2015

Subramanian panel likely to suggest multiple rates for GST
A panel led by Chief Economic Adviser Arvind Subramanian might suggest multiple revenue-neutral rates for the proposed GST based on different scenarios and leave it to the proposed GST council to decide on final rate. The Subramanian panel might also recommend separate rates for two items which will not likely be subsumed under GST - petroleum for the time being and alcohol forever - senior officials aware of the matter said.

Source: Business Standard dated 28 November 2015

Government may agree to two out of three of Congress' demands on GST
Sources told CNN-IBN that the government has indicated that it may agree to the 18 percent limit on GST. The government is also likely to agree to waive off the 1 percent levy for manufacturing states. However, one contentious issue still remains. The government is unlikely to accept a demand by the Congress to change the composition and state quota in the GST council.

Source: Moneycontrol dated 28 November 2015

PM Modi invites Sonia Gandhi, Manmohan Singh for tea
Reaching out to main opposition, Prime Minister Narendra Modi invited Congress President Sonia Gandhi and Manmohan Singh for tea during which issues like GST came up. Modi invited the Congress leaders to his Race Course Road residence, sources said. This assumes significance as the government and the Congress are at loggerheads which are stalling the passage of crucial legislations like the GST Bill.

Source: Business Standard dated 27 November 2015​

Did you know?
Taxation in Canada is a shared responsibility between the federal government and the various provincial and territorial legislatures. Within the Canadian system, sales tax varies from province to province. In Canada, three types of sales taxes are levied and the composition of these tax levies vary from one province to another. The types of sales tax levied in Canada are:
  • Provincial sales taxes (PST/QST (Quebec)), levied by the provinces.
  • Goods and Services Tax (GST), a value-added tax levied by the federal government.
  • The combined Harmonised Sales Tax (HST), also a value-added tax, a single, blended combination of the PST and GST which is used in a few provinces.
19 Adi Marzban Path | Ballard Estate | Fort | Mumbai 400 001 | India
+91 22 6730 9000 | |
Mumbai | Pune | Hyderabad | New Delhi | Chennai | Bengaluru
Member of Nexia International
This update contains general information which is provided on an "as is" basis without warranties of any kind, express or implied and is not intended to address any particular situation. The information contained herein may not be comprehensive and should not be construed as specific advice or opinion. This update should not be substituted for any professional advice or service, and it should not be acted or relied upon or used as a basis for any decision or action that may affect you or your business. It is also expressly clarified that this update is not intended to be a form of solicitation or invitation or advertisement to create any adviser-client relationship.

This update is a compilation of news from external sources. Whilst every effort has been made to ensure the accuracy of the information contained in this update, the same cannot be guaranteed. We accept no liability or responsibility to any person for any loss or damage incurred by relying on the information contained in this update.
© 2015 SKP Business Consulting LLP. All rights reserved.