Taxes
Goods and Services Tax in Malaysia may be implemented by the Malaysian Government somewhere in the third Quarter of 2011. 4% GST will replace the current sales and service tax currently levied at rates between 5% and 10%.Companies with revenue RM 500,000 ...
Goods and Services Tax (Malaysia)
08th December 2011Goods and Services Tax in Malaysia may be implemented by the Malaysian Government somewhere in the third Quarter of 2011. 4% GST will replace the current sales and service tax currently levied at rates between 5% and 10%.Companies with revenue RM 500,000 ...
Taxes
In Canada Goods and Services Tax (GST) is a multi-level value added tax introduced on January 1, 1991, by Prime Minister Brian Mulroney and Finance Minister Michael Wilson. The GST replaced a hidden 13.5% Manufacturers’ Sales Tax (MST); Mulroney claimed t...
GST in CANADA
06th December 2011In Canada Goods and Services Tax (GST) is a multi-level value added tax introduced on January 1, 1991, by Prime Minister Brian Mulroney and Finance Minister Michael Wilson. The GST replaced a hidden 13.5% Manufacturers’ Sales Tax (MST); Mulroney claimed t...
Taxes
The First Discussion Paper produced by the Empowered Committee of state Finance Ministers has come out with an innovative way to deal with inter-state transaction of goods and services. The forthcoming GST will be dual in nature and will be levied on all ...
IGST MODEL - AN INNOVATIVE IDEA
29th November 2011The First Discussion Paper produced by the Empowered Committee of state Finance Ministers has come out with an innovative way to deal with inter-state transaction of goods and services. The forthcoming GST will be dual in nature and will be levied on all ...
Taxes
In 2006, the UPA Government announced that a comprehensive GST would be launched on 1st April, 2010 and it was believed that the introduction of GST is a difficult task, as our current structure of indirect taxes is driven by the multiplicity of taxes. So...
GST: DELAY IN IMPLEMENTATION
23rd November 2011In 2006, the UPA Government announced that a comprehensive GST would be launched on 1st April, 2010 and it was believed that the introduction of GST is a difficult task, as our current structure of indirect taxes is driven by the multiplicity of taxes. So...
Taxes
The scheme of GST should be supported by a strong tax-administration infrastructure for it’s optimum success. Without an efficient tax-administration the implementation of goods and services tax will be just like pouring water in the bottomless bowl. So, ...
TAX ADMINISTRATION IN GST REGIME
11th November 2011The scheme of GST should be supported by a strong tax-administration infrastructure for it’s optimum success. Without an efficient tax-administration the implementation of goods and services tax will be just like pouring water in the bottomless bowl. So, ...
Taxes
GST is a destination based consumption tax. Consumption taxes are regressive in nature. It increases the gap between the rich and the poor. The pertinent point is whether such tax would be fruitful for the economy as a whole or not? Is it not so that shif...
GST: IMPACT ON THE POOR
04th November 2011GST is a destination based consumption tax. Consumption taxes are regressive in nature. It increases the gap between the rich and the poor. The pertinent point is whether such tax would be fruitful for the economy as a whole or not? Is it not so that shif...
Taxes
This comparison is based on the recommendations of the First Discussion Paper produced by the Empowered committee of states finance ministers (hereafter referred as EC) and the Report of the Task Force on GST constituted by the Thirteenth Finance commissi...
A COMPARATIVE VIEW ON GOODS AND SERVICES TAX
17th October 2011This comparison is based on the recommendations of the First Discussion Paper produced by the Empowered committee of states finance ministers (hereafter referred as EC) and the Report of the Task Force on GST constituted by the Thirteenth Finance commissi...
Taxes
The revenue growth target for this year is challenging a change in tune from an hot tempered optimist about the economy that has triggered concerns tax collections may drop sharply as economic activity slows. The task before the tax officials is very chal...
DEFICIENCY IN COLLECTION OF INDIRECT TAX THIS YEAR
26th September 2011The revenue growth target for this year is challenging a change in tune from an hot tempered optimist about the economy that has triggered concerns tax collections may drop sharply as economic activity slows. The task before the tax officials is very chal...
Taxes
Just like all other years, year 2010 had also passed. We all would recall this year for different reasons and at different points of time in our life but our Finance Minister would definitely recall this and that too for an important reason i.e. Goods and...
Can This New Year Bring Consensus
26th January 2011Just like all other years, year 2010 had also passed. We all would recall this year for different reasons and at different points of time in our life but our Finance Minister would definitely recall this and that too for an important reason i.e. Goods and...
Taxes
The idea of dropping the most quarrelsome issue of Constitutional Amendment from the recently concluded meeting of the Empowered Committee of the State Finance Ministers didn’t work well for the Government as it also failed to provide any fruitful results...
GOVERNMENT IS LOOSING ITS MOMENTUM
07th January 2011The idea of dropping the most quarrelsome issue of Constitutional Amendment from the recently concluded meeting of the Empowered Committee of the State Finance Ministers didn’t work well for the Government as it also failed to provide any fruitful results...