Fri, Feb 24, 2017 | updated 10:38 PM IST

Govt working to rollout GST on April 1: Jaitley

Updated: Sep 30, 2016 20:03 IST

New Delhi [India], Sept.30 (ANI): The Centre is working on a target date of 1st April, 2017 for the roll out of the Goods and Services Tax (GST) in the country, said Finance Minister Arun Jaitley on Friday at the fourth meeting of the Parliamentary Consultative Committee in New Delhi.

The subject of today's Meeting was the Goods and Services Tax (GST).

He said that till 16th September, 2017, that is one year after the provisions of the Constitution (101st Amendment) Act, 2016 being brought into force, the Constitution empowers the Central Government to levy excise duty on manufacturing; and service tax on the supply of services. The Finance Minister said that similarly the Constitution Amendment Act empowers the State Governments to levy sales tax or Value Added Tax (VAT) on the sale of goods till that time i.e. 16th September, 2016.

He said the first meeting of the GST Council was held in a very 'cordial and constructive' environment while adding that in the next meet the Council will take decisions on important issues like tax rates, exemption list and threshold limits.

"There is one item on GST council which wasn't taken up, calculation of annual increase of revenue, which is a formulation which is required for determining the compensation payble to any state losing out on revenue, which will be taken up in the next meeting of the council which will be held for three consecutive days on 18th, 19th and 20th of October ," adding "GST rate will be the big item that will be discussed in the next meeting" said Jaitley.

Members of Consultative Committee sought various clarifications with regard to GST Law and gave suggestions for its better implementation.

Some of the major suggestions include need for absolute clarity and transparency with regard to where taxes will be collected, assessed and where the appeal will be filed in case of GST regime.

Some of the members suggested there is a need for launching a large scale Awareness Campaign especially for the small traders as most of them are still unaware about the complex procedures and processes under GST regime including for registration and filing of returns.

The members also suggested that availability of IT network in all parts of the country, especially in small towns and rural areas, must be ensured as GST system will work only online.

The members hoped that this law will bring relief to the common man by exempting certain essential items from GST and moderate rate of taxation on other items which in turn will bring down the prices of common man consumption items as well as cost of living at large. (ANI)

Telangana CM announces salary hike for VRA's

Updated: Feb 24, 2017 21:50 IST

Hyderabad (Telangana) [India], Feb. 24 (ANI): Telangana Chief Minister K. Chandrashekhar Rao on Friday announced 64.61 percent hike in the salaries of Village Revenue Assistants (VRA), who are working on hereditary basis.

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TN CM Palaniswami meets PM Modi in Coimbatore

Updated: Feb 24, 2017 21:44 IST

Coimbatore (Tamil Nadu) [India], Feb. 24 (ANI): Tamil Nadu Chief Minister Edappadi K. Palaniswami on Friday met Prime Minister Narendra Modi here.

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New Delhi [India], Feb. 24 (ANI): India and Germany on Friday approved on a comprehensive Social Security Agreement (SSA) that will come into effect from May, to improve investment flows between the two countries.

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Yoga a passport to health assurance: PM Modi

Updated: Feb 24, 2017 21:16 IST

Coimbatore (Tamil Nadu.) [India], Feb. 24 (ANI): Emphasizing the significance of yoga, Prime Minister Narendra Modi on Friday said the entire world wants peace not only from wars but also from stress and it could only be gained by practicing yoga.

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J-K: Grenade hurled on police post in Pulwama

Updated: Feb 24, 2017 20:40 IST

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Mumbai (Maharashtra) [India], Feb. 24 (ANI): Changez Multani, an independent corporator, on Friday extended his support to Shiv Sena.

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New Delhi, [India], Feb. 24 (ANI): The Delhi Police on Friday filed a chargesheet against the four men accused of gang raping a U.S. tourist at the Patiala House Court in Delhi.

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Srinagar (Jammu and Kashmir) [India], Feb. 24 (ANI): National Conference President Farooq Abdullah on Friday said becoming militants were sacrificing their lives for the freedom of the nation.

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Onboard Air India One, Feb. 24 (ANI): En-route from Kampala to Delhi, Vice President Hamid Ansari on Friday said that a significant trade imbalance exists between India and Uganda.

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5.2- magnitude earthquake jolts Manipur

Updated: Feb 24, 2017 18:52 IST

Imphal (Manipur) [India], Feb. 24 (ANI): An earthquake of 5.2 magnitude jolted Manipur Friday evening.

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Mumbai (Maharashtra) [India], Feb. 24 (ANI): The Shiv Sena on Friday thanked the people of Maharashtra for showing faith in the party during the recent held Brihanmumbai Municipal Corporation BMC polls.

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Chennai (Tamil Nadu) [India], Feb. 24 (ANI): All India Anna Dravida Munnetra Kazhagam (AIADMK) leader and former Tamil Nadu chief minister O. Panneerselvam on Friday said he is the true AIADMK leader and added that the MLAs who voted in favour of Chief Minister Edappadi K. Palaniswami during the February floor test don't represent the party in the state assembly.

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New Delhi, [India], Feb. 24 (ANI): Union Minister for Petroleum and Natural Gas Dharmendra Pradhan on Monday said the Bharatiya Janata Party (BJP) is making a mark in Odisha because of its popular schemes.

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New Delhi [India], Feb.24: Dravida Munnetra Kazhagam (DMK) Working President M.K Stalin met President Pranab Mukherjee today to seek a fresh trust vote in the Tamil Nadu Assembly through a secret ballot voting procedure.

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Srinagar [India], Feb.24, (ANI): Chief of Army Staff General Bipin Rawat led tributes for bravehearts who had sacrificed their lives in a terror attack in Shopian in the recent weeks.

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Basti (Uttar Pradesh) [India] Feb. 24 (ANI): Congress vice-president Rahul Gandhi on Friday said the people of Uttar Pradesh need to elect a government that will give jobs and works for the benefit of farmers.

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