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| GST Weekly Bulletin, Vol I, Issue XI |
Finance Ministry in its press has released a report card on GST council. It stated that the discussions in GST council have been very supportive and all decision till have been taken by consensus. The press release mention some of the important decisions taken by the council such the threshold limit for exemption from levy of GST, the threshold for availing the Composition levy, the compensation for States, Approval of draft GST Rules and many other things. |
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| Author : BSA Taxation Team |
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| Date : December 19, 2016 |
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| GST Weekly Bulletin, Vol I, Issue X |
The GST council meet on 11th December was yet again inconclusive on the issue of dual control of the assessee. One of the main targets of the council was to decide the issue of dual control. However, the two day meeting was reduced to half and even on Sunday the contentious couldn’t be discussed. |
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| Author : BSA Taxation Team |
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| Date : December 12, 2016 |
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| GST Weekly Bulletin, Vol I, Issue IX |
The GST council once again failed to reach consensus on crucial issue of division tax administration between central and state authorities. However, the council made some progress on the central legislation. The next meeting will be held on December 11-12. The council will try to hammer out differences on which the assessee will be controlled by states and who would be governed by Centre. Further, the council will also have to decide on detailed compensation law to states for the loss of revenue in the first five years. |
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| Author : BSA Taxation Team |
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| Date : December 5, 2016 |
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| GST Weekly Bulletin, Vol I, Issue VIII |
The Centre released three drafts of GST laws which include the model GST law, the IGST law and the Compensation law, set to be discussed by the GST Council in its two day meeting starting on December 2. The Centre will notify the rates upon the recommendations of the GST Council which shall not exceed 28%.
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| Author : BSA Taxation Team |
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| Date : November 28, 2016 |
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