A crucial meeting of the empowered committee on state-level value added tax will be held in New Delhi on Tuesday to thrash out the problems that have stalled the implementation of the system from April 1.\n\n\n\n
The GST, an indirect tax regime, is to be rolled out from April 2016.
The Bill was introduced in the Lok Sabha in December.
The Bharatiya Janata Party's new national team integrates women, minority leaders, and regional representatives to strengthen its organisational structure and national appeal.
The Bharatiya Janata Party (BJP) has announced a significant overhaul of its national team under party president Nitin Nabin, introducing numerous new faces and promoting prominent leaders like former Union minister Smriti Irani to general secretary and former RSS functionary Ram Madhav to vice president. The revamp aims to balance youth and experience while preparing for upcoming assembly and general elections.
Arun Jaitley on Friday said he would defer the move.
The panel might also decide on a new chairman.
Finance Minister Jaswant Singh will soon convene a meeting of state chief ministers to work out details for implementation of the much-delayed value added tax in the country.
The Rajya Sabha on Wednesday approved the biggest tax reform since Independence.
He said that veteran party leader Jyoti Basu has also made it clear that the dispute would not affect the stability of the government.
They've proposed a sub-committee under the proposed GST Council or the Empowered Committee of State Finance Ministers to resolve any disputes in the tax's implementation.
In terms of MLA salaries, Odisha is followed by Telangana (about Rs 2.7 lakh), Maharashtra (Rs 2.6 lakh), Manipur (Rs 2.5 lakh), and Uttar Pradesh (Rs 2.4 lakh).
Sushil Kumar Modi, who ceased to be Bihar Finance Minister following the JD (U)-BJP split, on Monday resigned as Chairman of the Empowered Committee of State Finance Ministers looking into the implementation of the proposed new indirect tax regime - Goods and Services Tax (GST).
Finance Minister P Chidambaram on Monday exuded confidence that the centre will be able to sort out the issues concerning implementation of the Goods and Services Tax (GST) shortly.
In its next meeting, empowered committee of state finance ministers set to oppose a proposal on state govt undertakings' I-T deduction.
The Empowered Committee of state finance ministers is meeting under the chairmanship of West Bengal finance minister Asim Dasgupta to work out agreements on various aspects of the GST.
'Neither SAI nor state departments have a dedicated sports administration service. Instead, roles are filled by generalist civil servants or contractual staff, often lacking sector-specific expertise.'
The GST reform has virtually come to a standstill.
He will succeed Kerala Finance Minister K M Mani.
It will help to lower their costs by 7-8 per cent.
Modi, who also handles the finance portfolio in the Bihar government, replaces Asim Dasgupta, who had served in the post for over a decade since the formation of the body.
The central government, in its revised draft of the constitution amendment bill, had proposed that fuel and liquor should be brought under the ambit of GST.
After failing to convince states to keep petroleum products within the ambit of the proposed goods and services tax (GST), the Centre has finally relented. It has agreed to the proposal of the empowered committee of state finance ministers to keep petroleum products like crude, motor spirit, aviation turbine fuel (ATF) and high-speed diesel out of GST.
Businesses with more than Rs 10 lakh turnover may end up paying the central goods and services tax, with the Centre not agreeing to states' suggestion of keeping the threshold at Rs 1.5 crore.
Bihar deputy chief minister and finance minister Sushil Modi was on Monday elected the new chairman of the empowered committee of state finance ministers.
It appears that things will crystallise on several aspects of the GST only by end 2008. This means that the country will only have a period of 15 months, from beginning 2009 to March 2010, to ensure that all the constitutional policy and legislative changes take place. It does seem increasingly a big challenge, says S Madhavan.
Bihar's Deputy Chief Minister Sushil Kumar Modi tells Ajit Jain about tax lessons he learned in Canada
Finance Minister Pranab Mukherjee said 'yes' in a written reply to the Rajya Sabha when asked whether the chairman of the Empowered Committee of the State Finance Minister has expressed the opinion that it was not feasibile to implement GST from April 1, 2010.
The Lok Sabha has already passed the Bill.
Empowered committee of state finance ministers on value-added tax has sought to allay fears of traders that the new tax system will lead to increase in prices, stating that the worldwide experience did not support this apprehension.
The much-awaited introduction of value added tax regime from April one this year will be delayed by a few days because of some "unavoidable procedural tangles".
The finance minister said the consensus between the Centre and states is required to amendment the constitution for implementing goods and services tax.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
In a major step towards introduction of Value-added Tax from April 2005, states on Wednesday endorsed a 'white paper' on the new tax regime, which would be formally issued on January 17.
