The Central Board of Excise & Customs will develop the process over the next few months.
A decision by P Chidambaram in his last days as finance minister has annoyed the revenue department.
Corp tax arrears at over Rs 3.11 trillion as of Dec 2014.
Adani Group is exploring legal options after being slapped with a Rs 5,500-crore tax notice, allegedly for overvaluing imported equipment, by the Mumbai wing of the Directorate of Revenue Intelligence.
The Directorate of Revenue Intelligence (DRI) has slapped a Rs 5,500-crore show-cause notice on Adani group for alleged over-valuation of capital equipment imports.
GST is levied on every transaction in the supply of goods and services, barring certain exempted items
Ironically, West Bengal, which has been seeking a postponement of the GST roll-out, has fared better among most other states.
'Those who are talking of adopting the Narasimha Rao-Manmohan Singh policy must understand now that what was a reform then is no longer a reform now,' argues Sukumar Mukhopadhyay who was associated with the 1991 economic reforms.
Top management of firms should be summoned for a few specified reasons and after written justification at a senior level.
If the government tries to bring in real estate under GST now, it will be a typical case of biting more than what one can chew, says Sukumar Mukhopadhyay.
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To get what it thinks are its dues, its brass have directed; construction, realty, renting of property, personnel supply, security & goods transport among those under lens
The biggest achievement of demonetisation is that it has brought about a social revolution against black money and corruption, says Sukumar Mukhopadhyay.
It has always been accepted in various apex court rulings that economic policy is not justiciable. It can intervene only if the legislation is seen to violate fundamental rights says Sukumar Mukhopadhyay.
States' demand for 5 years and Constitutional provision ruled out
The government is going all out to spread awareness about the new indirect tax regime, and training lawmakers is being seen as a necessary first step.
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