1st GST council meeting

Moving towards rolling out GST from 1st April 2017, the first GST council meeting was held on 22nd & 23rd September 2016.The GST Council, which is headed by Union Finance Minister Arun Jaitley, includes representatives of all the 29 states and 2 union territories. In the first meeting, the members discussed several issues related to composition scheme, […]

2nd GST council meeting-Setting the foundation of GST

The second GST council meeting held on 30th September 2016 took several significant decisions related to registration & rules. The main purpose of this meeting was to approve the draft rules released for GST in relation to Registration, Return, Refund, Payment, Invoices and Debit & Credit notes. The decisions / discussions done in today’s meeting […]

3rd GST council meeting – A Crucial Meeting, Yet no consensus on assessment of Service tax assessees

The third GST council meeting was considered a crucial one because the government has set a deadline of 1 April 2017 for GST roll out and it is just five months away. The three day meeting concluded yesterday evening i.e. 20th October, 2016. The agenda mainly discussed during the meeting was tax rate, compensation formula […]

4th GST council meeting

The 4th GST Council meeting ended without reaching any resolution on the dual control over assesses. This issue has been pending since the second GST council meeting. Council has explored two options: Horizontal Division Vertical Division Right now there is tug of war between centre and state as to who will get how much control […]

GST Council movements on track for successful launch on July 01, 2017: All GST laws cleared

The pace at which the government is moving ahead to ensure implementation of GST by 1st July 2017 is commendable. With the Goods and Services Tax (GST) council approving the remaining two of the five bills concerning the tax regime on Thursday, India’s most ambitious indirect-tax reform is likely to roll out from July 1. […]

Manmohan Singh steps in, gets Congress to step back on GST

After the Rajya Sabha passed four GST bills on Thursday April 6, Finance Minister Arun Jaitley walked to former Prime Minister Dr. Manmohan Singh and shook his hands. Surprisingly, Congress did not move any amendments. Citing advice by the former prime minister, Jairam Ramesh withdrew his amendments that required decisions of the GST Council to […]