Skip to main content

PM calls for intensive meetings of GST Council

Eyeing an April 1 roll out of the goods and services tax, Prime Minister Narendra Modi has urged that all steps be completed before then.
Modi held a meeting to review the preparedness for roll out of GST on Wednesday. He said the GST Council would need to have intensive meetings to be able to make timely recommendations, including those relating to the model GST Bill, rates, and the goods and services that may be subjected to or exempted from the law.
The meeting was attended by Finance Minister Arun Jaitley and senior officials of the Prime Ministers Office and finance ministry.
“The Prime Minister reviewed the progress made on GST such as rules to be framed, establishment of IT infrastructure for both Centre and states, training of central and state officers and awareness outreach for trade and industry,” said a statement issued by the PMO on Thursday “The Prime Minister directed that all steps must be completed much before April 1, 2017,” it said.
The first meeting of the GST Council, headed by the finance minister, will be held on September 22 and 23, and the panel is to make recommendations within 60 days.
Business Standard New Delhi,16th Septemer 2016

Comments

Popular posts from this blog

Data storage norm splits digital payments industry

Data storage norm splits digital payments industry  India’s nascent digital payment industry could be thrown into disarray due to the demand by the Reserve Bank of India (RBI) that all user data be stored within the country, fears an industry grouping, which has termed the decision as “heavy-handed”, even as others, including the country’s largest digital payment provider Paytm, have hailed the move.  In a bid to narrow the growing schism, the industry is planning to send a formal representation to the regulator highlighting its concerns, a top official told ET.  “We are trying to build a consensus on the issue," said the person adding that the representation to the central bank will be ready this week.  RBI on April 6, mandated all payment companies—global and local—to set up data storage facilities within India by October. The stringent six-month deadline has attracted the ire of several sections of the industry that fear it will lead to a disruption of wel...

Offer’s for all of you

Great Bumper Dhamaka Offer’s for all of you... It's Time to see your Business Online, WebeCreator Offer Website Designing with domain & Email @ nominal charges. For a year For More information visit us http://goo.gl/KlpppF call on 9890151261/9773197533  drop a mail to sales@webecreator.com

Sebi to finalise options in commodities today

The Commodity Derivatives Advisory Committee of the Securities and Exchange Board of India ( Sebi) will meet on Friday with senior officials of the latter, to give a final shape to the rules on options trading in commodity futures, beside revising the warehousing norms to ensure good delivery on settlement. The decision taken, after discussing with the advisory committee, will be placed before the regulator’s board, to finalise the regulations. According to knowledgeable sources, three commodities in each segment, agricultural and non- agricultural, have been proposed for introducing options. It appears commodities from the soya and guar segments are preferred in the former. From the non- agri segment, it is likely that gold, silver and crude oil will be finalised. All these These have better liquidity and both the National Commodity and Derivatives Exchange and the Multi Commodity Exchange, respectively, will be able to introduce the options. In the equity segments, options ar...