Top Ad 728x90

Monday, January 30, 2017

,

GST Deadline extended till 1st July, 2017

Finance Minister Shri Arun Jaitley has addressed the media after 9th GST Council meeting and said that GST deadline is deferred to 1st July 2017 and Center

GST
GST Deadline extended till 1st July 2017
Finance Minister Shri Arun Jaitley has addressed the media after 9th GST Council meeting and said that GST deadline is deferred to 1st July 2017 and Center and States has come to Consensus on all pending issues. Some of the highlights of his media briefing are as follows: -

1. The entire taxation base will be shared between the assessment and machinery of the Centre and the states.


2. Those above turnover 1.5 crores would be assessed in the ratio of 50:50 between Centre and state.

3. All assesses with GST turnover of Rs. 1.5 crore or less, 90 per cent of them will be assessed by 
States & 10 per cent by administrative machinery of Centre. The agreement hammered out was based on a proposal by Tamil Nadu.



4. Each assessee would be assessed by one authority only.

0 comments:

Post a Comment

Top Ad 728x90