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GST Council is an apex member committee to modify, reconcile or to procure any law or regulation based on the context of goods and services tax in India. The council is headed by the union finance minister Nirmala Sitharaman assisted with the finance minister of all the states of India. The GST council makes recommendations to the Parliament of ...
It oversees the administration of indirect taxes, including customs duties, excise duties, and the Goods and Services Tax (GST). CBIC's function also extends to prevention of smuggling, illicit financial activities, and regulation and control of narcotics through its attached/subordinate offices.
He was made the chairman of GST council by the NDA Govt in 2000. Dasgupta admitted in an interview that 80% of the plan had been formulated under his tenure in the GST Council. [5] He resigned from the chairmanship in 2011. GST was finally implemented on 1 July 2017. He is referred to as the architect of India's GST. [4]
[27] [28] [29] Some newspapers like The Hindu and The Economic Times noted that commission's job was made harder because of the roll-out of goods and service tax (GST) regime in India, as, it had taken certain powers concerning taxation away from the union and the states, and, had given them to the newly formed GST Council.
A dual GST module for the country has been proposed by the EC. This dual GST model has been accepted by centre. Under this model GST have two components viz. the Central GST to be levied and collected by the Centre and the State GST to be levied and collected by the respective States.
Institute of Cost Accountants of India Abbreviation ICMAI Formation 28 May 1959 ; 65 years ago (1959-05-28) Legal status Established under the Cost and Works Accountants Act, 1959 Statutory body enacted by the Parliament of India Headquarters CMA Bhawan, 12 Sudder Street, Kolkata – 700016 India Kolkata, India Coordinates 22°33′29″N 88°21′13″E / 22.558103°N 88.353672°E ...
India's Income Tax Appellate Tribunal (ITAT) was the first experiment in tribunalization in the history of India.It was set up on 25 January 1941 by virtue of section 5A of the Income Tax Act, 1922.
An executive council is a constitutional organ found in a number of Commonwealth countries, where it exercises executive power and (notionally) advises the governor, governor-general, or lieutenant governor, and will typically enact decisions through an Order in Council.