SINGLE REGISTRATION UNDER GST There are media reports that, the GST Council is contemplating the demand of certain service providers, including e-commerce players, for single registration under Simplified Registration Scheme, proposed to be prescribed under the draft Model GST law 1. The intention i...
Blogs tagged with: goods and services tax (GST)
TIMELINE FOR IMPLEMENTING GST The Hon’ble Finance Minister recently indicated that, while the Government is aiming to implement GST from April 2017, the roll out would have to take place by September 16, 2017 at the latest. In the parallel, a Press Release from the Ministry of Finance carried a stat...
Though implementation of a unified GST regime is a huge step towards a much awaited tax reform, the implementation of GST could hike renewable energy costs and significantly increase the cost of energy projects in India. The energy sector is a key driver for economic growth but remains plagued by po...
Cross credits for aircraft lease taxes under the GST system will be a great boost for the local service industry. However, the Government will need to carefully consider the inflationary impact of keeping aircraft fuels outside GST. With increasing liberalisation and focus on infrastructure developm...
In a historic breakthrough, the Constitution (One Hundred and Twenty Second Amendment) Bill, 2014 (‘GST Bill’) has been passed unanimously by the Rajya Sabha of the Parliament. This is a significant step and takes the country closer to Goods and Services Tax (GST). The GST Bill was introduced in the...
The implementation of GST will significantly improve the competitiveness and performance of India’s manufacturing sector. However, prior to its roll out, it will be incumbent upon the Indian government to address certain stakeholder concerns, if it wants to foster long term growth in this sector. IN...
Plagued, as it is, by indirect tax disputes and ambiguities, the implementation of GST is expected to usher in a uniform tax regime and bring some clarity to indirect taxation in the e-commerce sector. Introduction India is at the threshold of one of the biggest tax reforms it has ever seen - the Go...
Dear Reader, The Government of India released the draft of the Model GST Law into the public domain earlier this week. The attached booklet contains ELP’s analysis of the provisions of the model law. ELP-Analysis-of-Model-GST-Law.pdf We trust you will find this an interesting read. If you have any q...