When will GST be applicable – GST is Applicable from 1st July 2017
When will GST be applicable – GST is Applicable from 1st July 2017. Check Applicability of GST, SGST, CGST, GST is Applicable or not for CA Course. GST is Rolled out From 1st July 2017. Check Latest News on GST Applicability. Everyone ask that when GST is applicable in India so in this article we provide all latest Updates on GST Applicability, Check all updates from below. Hello Everyone Here we are providing Complete Details on Applicability of GST (Goods and Service Tax). In this article you can find all details regarding When will GST be applicable. Recently we provided Complete details for Registration Under GST – Registration Requirement, Liability. and Role of Company Secretary in GST, Role of CS in GST. Now you can scroll down below and find Details for When will GST be applicable – Know complete details.
GST Registration is Started and we already Provided Complete Procedure for GST Registration for all Existing Taxpayers. You may find all details for GST Registration with Screenshots and Video Guide, we also provide Last Date for GST Registration in Various States, Please Check more details for GST Registration from below link… https://gst.caknowledge.in/gst-registration/
Latest News on GST Applicability – 29-03-2017
GST Bill is passed in Lok Sabha on today 29/03/2017 with all amendments. जीएसटी बिल बुधवार को लोकसभा में अमेंडमेंट्स के साथ पास हो गया। जीएसटी से जुड़े चार बिल सेंट्रल जीएसटी (सी-जीएसटी), इंटिग्रेटेड जीएसटी (आई-जीएसटी), यूनियन जीएसटी (यूटी-जीएसटी) और मुआवजा कानून बिल हैं। बिल पर 7 घंटे बहस हुई। नरेंद्र मोदी भी सदन में रहे। बहस के दौरान जेटली ने कहा- जीएसटी से महंगाई नहीं बढ़ेगी। टैक्स के मौजूदा रेट्स एक लेवल पर ही रहेंगे। वहीं, कांग्रेस के वीरप्पा मोइली ने कहा- ये कोई गेम चेंजर स्टेप नहीं बल्कि बेबी स्टेप है। जीएसटी से जुड़े 4 बिलों को सोमवार को संसद में पेश किया गया था। बिल में मैक्सिमम 40% जीएसटी रेट, मुनाफाखोरी रोकने के लिए अथॉरिटी बनाने और कर चोरी करने पर गिरफ्तारी जैसे प्रोविजन हैं।
The GST (Goods and Services Tax) is set to be rolled out from 1 July 2017 after the centre and the states struck a consensus on the contentious issue of sharing of administrative powers.
The centre had earlier targeted a rollout on 1 April, 2017 but now Central Govt to be rolled out from 01-07-2017 (1 July 2017)
“So I requested the Ministers to give their opinion about the realistic dates and there was a broad view that July 1 appears to be more realistic [for the rollout of GST],” he said. “Since it is a transactional tax, it can be introduced anytime. Also, they felt that industry and trade would have to be given adequate notice and once the rates are decided, the GST network would have to be modified suitably.”
When GST is Applicable – Modi Government Want to applicable GST Bill From 1st July 2017, So as per Latest News GST is Applicable from 1st July 2017, Keep visit to our site for more latest updates…..
Recently Finance Minster of India Arun Jaitley Says that GST can be rolled out anytime between 1st April 2017 to 16th September 2017. The Goods and Services Tax (GST), he said, can be implemented anytime between 01-04-2017 to 16-09-2017, in accordance with the constitutional amendment legislation that allows a national sales tax by subsuming central and state levies.
The Council was working towards resolving the deadlock, he said.
“The range of timing when GST has to come into force is between April 1 2017 and September 16, 2017 due to constitutional necessity. Nobody has the luxury of time,” Jaitley said in his address at the 89th annual general meeting of Federation of Indian Chambers of Commerce and Industry (Ficci) here.
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GST Applicability in CA Exams
(GST is Applicable from May 2018 attempt in CA Course = ICAI Official News
As per ICAI official notification –
| GST to be made applicable from May, 2018 examination onwards for Intermediate (IPC) Course and Final Course – (30-03-2017)
The Council of ICAI has decided that Goods and Services Tax (GST) will be examined in both Part II: Indirect Taxes of Paper 4: Taxation of Intermediate (IPC) Course and Paper 8: Indirect Tax Laws of Final Course from May, 2018 examination onwards.
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GST Bill Passed in Rajya Sabha on 3rd August 2016 (03-08-2016)
Finally GST Bill passed after serious debate. On Today GST Bill is Passed in Rajya Sabha. GST Bill is Passed with 203 Votes. There are no vote against GST Bill. AIADMK walks out of the Rajya Sabha before the voting takes place.
देश के सबसे बड़े टैक्स रिफॉर्म गुड्स और सर्विस टैक्स (जीएसटी) बिल के लागू होना का रास्ता साफ हो गया। राज्यसभा में लंबी बहस के बाद बिल पारित हो गया।इस बिल के पक्ष में 203 वोट पड़े, जबकि इसके विरोध में कोई वोट नहीं पड़ा। इससे पहले अन्नाद्रमुक के सदस्य बिल के विरोध में सदन से बहिर्गमन कर गए।…
Latest News – GST Bill is Passed by 16 States till 1st September 2016
केंद्र सरकार के लिए यह एक बड़ी सफलता है। टैक्स रिफॉर्म से जुड़ा यह अहम बिल लंबे समय से राज्यसभा में अटका हुआ था। मोदी सरकार इस बिल को 1 अप्रैल, 2017 से लागू करना चाहती है। इकोनॉमिक अफेयर्स सेक्रेटरी शक्तिकांता दास ने कहा कि जीएसटी से भारत का टैक्स स्ट्रक्चर पूरी तरह बदल जाएगा।
The commitment and schedule given by GSTN is as follows:
- Development of GST Frontend and Backend for 17 States by GSTN: End December 2016
- CBEC’s Backend systems: End November 2016
- Backend systems of 14 States: End November 2016
- Backend systems of Pr. CCA, Banks, RBI & State accounting authorities: End November 2016
- Testing and integration of GST Front end and backend of all stakeholders : Jan – March 2017
In other words, as far as preparedness in concerned from the Central Govt. and State Govt., they are committed to implement GST w.e.f. 1st April 2017. Now, time has come to introspect whether Trade and Industries are getting ready / prepared to implement most awaited Tax reforms after freedom.However, it seems that now trade & industries will have to make up the speed and get prepared for welcoming new tax reform, which is called as “Game Changer”
When will GST be applicable – Know complete details
The Central Government has finally agreed to many demands of various states during the most successful meeting held so far on 15th December , 2014. This is claimed to be a win win deal and passing of first hurdle in rolling out the long awaited goods and service tax (GST) in India from April, 2016 .Now, the probability of introducing the amended bill in winters parliamentary session cannot be ruled out.
GST will ultimately create a unified market by ending up the multiple levies of taxes by the Centre and the States.Consequently, it will lower the costs for business and more revenue for the government.The states were afraid of loss of flexibility but it is said that this meeting has cleared many such fears .Broad agreement has been arrived between the Centre and various States.
For initial years , petroleum products will be outside the regime of GST. It is pertinent to note that many states get half of their taxes from such products only and for long it has had been a major concern for the states .
The said meeting was very significant for implementing GST in India in as much as the states have been allowed to to levy the following taxes in addition to GST :
1.additional levy in lieu of entry tax:
such tax will be subsumed into the combined tax on goods and services
2. transitionary tax :
manufacturing states like Gujarat and others can levy transitionary tax for one to two years.
In addition to the above, it was also assured that the Central Government will substantiate all the losses of states for a period of 5 years after the rolling out of GST in India.
Considering these major developments, we can say that very soon GST in India will be a dream come true . At the same , it is ironical to note that the original date was April 2010 for implementing GST in India but it took long 6 years to implement by making a political will to build a uniform taxed regime in India and now date for its implementation is April 2017.