2014-12-10

GST from April 2016: State FM Jayant Sinha

The GST will incorporate excise duty and service tax on the central fonts and VAT and local levies on the states font.

GST from April 2016: State FM Jayant Sinha

The Government said that the broad agreement has been achieved with the states on most of the issues concerning the implementation of Goods and Services Tax (GST), which is scheduled to be rolled out from April 1, 2016, says a PTI report.

“The states will be insulated from the impact of GST on their revenues and gradually the new tax regime will also cover petroleum and petroleum products,” said Jayant Sinha, Minister of State for Finance.

"The tax rate under GST may be nominal or zero rated for the time being. This has been proposed to insulate the revenues of the States from the impact of GST, with the expectation that in due course, GST will be levied on petroleum and petroleum products," Sinha said in a written reply to Rajya Sabha.

"There has been broad agreement on most issues related to GST with the states in the recent months and the GST rollout is scheduled on April 1, 2016," he said.

The GST will incorporate excise duty and service tax on the central fonts and VAT and local levies on the states font. The NDA government is likely to come up with a fresh bill as The GST Constitutional Amendment Bill, which was introduced in the Lok Sabha in 2011, had lapsed.

Related opportunities
  • Others Food Service
    Keerthana & Parameshwari - Two homemakers came together to serve..
    Locations looking for expansion Karnataka
    Establishment year 2004
    Franchising Launch Date 2020
    Investment size Rs. 30lac - 50lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Casual Dine Restaurants
      The Round Slice,   a brand famous for King Kong Pizza (specially..
    Locations looking for expansion Gujarat
    Establishment year 2019
    Franchising Launch Date 2020
    Investment size Rs. 50lac - 1 Cr.
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
  • Grocery Stores
    About Us: Farmley is an Indian direct-from-farm brand offering the widest..
    Locations looking for expansion Uttar pradesh
    Establishment year 2017
    Franchising Launch Date 2022
    Investment size Rs. 5lac - 10lac
    Space required 60
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bishrakh Uttar pradesh
  • Career Counselling & Brain Programming
    About Us: Brain Checker Techno Services (India) is India's Largest Career..
    Locations looking for expansion Maharashtra
    Establishment year 2012
    Franchising Launch Date 2014
    Investment size Rs. 2lac - 5lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Nashik Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts

pincode
;
ads ads ads ads