SIGN IN SUBSCRIBE

News Update

Delhi HC orders DGCA to deregister GO First’s aircraftIndia successfully tests SMART anti-submarine missile-assisted torpedo systemKiller heatwave kills hundreds of thousands of fish in Southern VietnamHong Kong struck by close to 1000 lightningColumbia Univ campus turns into ‘American Gaza’ - Pro-Palestinian students & counter-protesters clashViksit Bharat @2047: Taxes form the BedrockGST - April month collections go past Rs 2 lakh crore threshold - peak to Rs 2.1 lakh croreCX - Alleged clandestine removal - Not replying to SCN on the ground that letter is not furnished by department is only a ruse as reliance is not placed on the same by the respondent authority for adjudicating the SCNs: SCGST - Proper officer observes that the reply filed is not satisfactory and since the assessee has nothing more to say, demand is confirmed - Officer has not applied his mind - Matter remitted: HCGST - Petitioner had no opportunity to even object to the retrospective cancellation of registration - Petitioner does not seek to continue his business and has sought cancellation of registration - Order modified accordingly: HCGST - Seizing the outward movement of funds from petitioner's bank account - Life of an order of provisional attachment u/s 83(2) is only one year - HDFC Bank, henceforth, cannot restrain operation of bank account: HCTax - on Death and ContemplationDelhi, Noida schools receive bomb threats; Children sent back homeI-T- Writ court is not required to interfere with assessment order, where assessee also has available option of statutory appeal: HCED seizes Rs 90 Cr stored in crypto in Gaming App scamI-T-Transfer of assessment is sustained, where assessee does not reply to any notice issued in this regard & where valid reasons exist for transferring assessment: HCHM appeals Naxalism will be erased in 2 yrs if Modi voted back to powerAmerica softens offence related to use of marijuanaI-T - Rule 11UA does not mentions pre-condition of approval of balance sheet by Annual General Meeting: ITATAfter US & UK India comes third in terms of 79 mn cyber attacks in 2023: StudyCBIC revises tariff value of gold, silver & edible oils
 
Amendments to GST Bill - Cabinet okays deletion of 1% addl tax

By TIOL News Service

NEW DELHI, JULY 28, 2016: WITH the Union Finance Minister, Mr Arun Jaitley, accepting a couple of demands of the main Opposition Party in the Rajya Sabha, it was also certain that the Union Cabinet would soon propose certain amendments in the pending Constitution Amendment Bill. And the same happened yesterday night when the Union Cabinet gave its nod to removal of one per cent additional tax on inter-state trade in goods.

Although the Government was expected to come up with some solution to yet another demand of the Congress Party - a mechanism to resolve disputes among the States. But it seems the Govt is firm in its view that the dispute resolution issue should be left to the discretion of the GST Council.

However, the Cabinet has approved the demand to provide full compensation to States for five years if they suffer any losses.

With these two amendments, the Govt is hopeful that it may manage the Bill this time. But Congress is equally hopeful that since the GST rate has not been ringfaced, it would succeed in derailing the Govt's optimism again.


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.

TOP NEWS

AR not Afar by SK Rahman

VISION 360



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

TII LATEST

TIOLCORPLAWS LATEST