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Bihar finance minister Modi to head GST panel

GST: States to bargain hard with individual rates
As talks on the implementation of the Goods & Services Tax (GST) pick up steam, states are set to drive a hard bargain on compensation from the Centre for any loss of revenue to these in the new regime. A revenue-neutral rate is being worked out by the National Institute of Public Finance and Policy (NIPFP) to estimate how much each state could lose by shifting to a uniform rate in the GST regime.

After Europe, state FMs to visit Canada for GST lessons

After a 10-day Europe trip last September, the Empowered Committee of State Finance Ministers is now planning a 15-day visit to Canada in August to study the Goods & Services Tax (GST) model in

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FM promises follow-up action to boost growth

The government is set to complement the Reserve Bank of India's bold step to cut the repo rate to revive growth. Minutes after the monetary policy announcement, Finance Minister Pranab Mukherjee said

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Against retrospective tax on foreign deals: Shome

Retrospective tax on foreign transactions might lead to a conflict between the judiciary and the legislature, said Parthasarathi Shome, director and chief executive, Indian Council for Research on

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Cabinet to decide on GSTN, DTAAs today

A meeting of the Union Cabinet tomorrow is likely to consider a proposal to allow a common information technology network for all states. Called the Goods & Services Tax Network (GSTN), it is

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Orissa demands reversal of CST rate at 4%
Orissa has voiced its opposition to the Central government's decision to phase out compensation given to states against Central Sales Tax (CST) loss from 2011-12.

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Goods and services tax Galleries

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Common man`s Budget wish list...

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