GST Council finalises draft model law in meeting headed by Arun Jaitley

The all-powerful GST Council, headed by Union Finance Minister Arun Jaitley and comprising representatives of all states, had in its last meeting on January 16 agreed that 90 per cent of tax assessees below Rs 1.5 crore annual turnover will be assessed by states and the remaining 10 per cent by the Centre.

The council has approved the final draft of law to the states.

The next meeting on GST bill implementation will be held on March 4, 2017 and March 5, 2017. S-GST law, after approval of the Council, will need to be passed by each state legislature. "On March 4-5, the legally vetted drafts for all important bills will be presented to the Council", Jaitley said after the 10th GST Council meeting.

UFC 208 in Brooklyn another sign of growing women's MMA
One day, maybe, I go talk (with my family) and 'Okay, I be done, ' but right now, I think I have five, six, seven years (left). Three months ago, the Irishman became the first to simultaneously hold two of the fight promotion's world titles.

Jaitley said the GST Compensation Law that provides for compensating states that incur losses because of implementation of the Goods and Service Tax (GST) in first five years was approved by the Council today.

It's necessary that enabling laws be completed by second half of budget session.

The Centre and states failed to agree on the details of two bills crucial to triggering a Goods and Services Tax (GST) on Saturday, which possibly clouds the roll out of the country's biggest tax reform from July.

Chicago Police Hope Surveillance Footage Solves Shooting of Two Girls
The 11-year-old is a cousin of well-known community activist Andrew Holmes . Twenty-three others were shot in shootings that resulted in five deaths.

The key issue that remains to be worked on is a decision on which goods and services get taxed at what rate.

Talking on different tax slabs, Jaitely said, "One major meeting of GST Council will be required to give approval to putting goods and services in different tax slabs".

"That is the power which the CAG already has under the CAG Act".

Gaza blames Israel for tunnel blast 'killing two Palestinians'
Asked whether he believes the Palestinians need to make concessions, Trump replied in the affirmative. So many people think it can not be made.

The Finance Minister said the council did not discuss the anti-profiteering clause in today's meeting. A sub-committee of the GST Council's made up of central and state officials had discussed the draft of Friday.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

Arsenal resigned to Sanchez exit
With no sign of a new deal being signed, it is increasingly likely that Sanchez may be seeking pastures new come the end of the season.

George Clooney's mum gushes about his new babies
The notoriously private couple kept tight-lipped about pregnancy rumors when they first arose last month. Oscar-winning George Clooney is one of Hollywood's top A-list actors and box office draws.

Powerful storm prompts flood, surf, and wind warnings in SoCal
Some locations are expected to see up to 2 feet (0.6 meters) of snow, the Weather Channel said. Flash flooding is also a concern in urban areas.

Senate hearings for Supreme Court nominee Neil Gorsuch to begin March 20
But it remains unclear whether Democrats, in the Senate minority, ultimately will try and block his nomination with a filibuster . Supreme Court nominee Neil Gorsuch, but he walked away with concerns about the judge's candidacy for the high court.

Northbrook company's muscular dystrophy drug wins FDA approval
Duchenne's, a devastating muscle-wasting disease, affects some 15,000 patients in the United States, mostly young boys. By week 52, patients in the Emflaza group maintained an overall stability in average muscle strength.

Warner Bros Unveils Their New Shared Universe With The Surprise 'Ninjago' Movie
Having stolen the show in the original Lego Movie, the legendary crime fighter is now in the throes of a mid-life funk. LEGO , the LEGO logo, NINJAGO , the minifigure and the brick and knob configuration are trademarks of The LEGO Group.

Texas senator responds to Trump's vague 'destroy' comment
People who agree with the practice maintain that it allows law enforcement to effectively combat terrorism and the drug trade. Congress would "get beat up really badly by the voters" if they interfered with law enforcement's activities.

Jim Jefferies and Piers Morgan Should have a Celebrity Death Match
Moments later, Jefferies punctuated his point by giving Morgan the middle finger while the crowd cheered him on. Piers started by imploring Maher to "calm down" and went on to say that there is no Muslim ban.

Teenager Zverev beats Tsonga in France
Gasquet faced two break points while serving down 3-4. "It was a hard match", said Gasquet. "It was close during the first set". Grigor Dimitrov won his second title of the season by beating David Goffin 7-5 6-4 in the final of the Sofia Open in Bulgaria.

Sky presenter has unfortunate slip of the tongue describing Robbie Brady's goal
Nine months on from their astonishing 5,000-1 title triumph, Leicester City continue to make history, but now it is for all the wrong reasons.

Graham takes action against granting sanction relief to Russian Federation
Anxious about President Donald Trump's continued praise of Russian President Vladimir Putin, U.S. Ben Cardin, D-Md., Marco Rubio, R-Fla., Sherrod Brown, D-Ohio, John McCain, R-Ariz., and Sen.

Oakland Raiders' Aldon Smith investigated in domestic incident
If Smith does end up getting arrested it will throw a monkey wrench into his plans to be reinstated by the league. If police find reason to believe Smith committed a crime, the team would likely cut ties with Smith soon after.

Prom gives special needs youths, adults night to shine
Friday's event was the inaugural Night to Shine in the Northland and it was open to anyone older than 14 who has special needs. They will arrive in limousines to a paparazzi on the red carpet to get their makeup and hair done before the big night begins.

Missing 150-year-old wedding dress found after Facebook appeal
Tess was the last person to wear this antique lace gown when she married husband Alfred Newall , 30, in June 2016. She said she still planned to have the dress cleaned, but probably at a lace specialist in London .

20000 in Mexico City protest Donald Trump's border policies
The marchers protested Trump's plans for a border wall and increased deportations of migrants. Those comments have not gone unnoticed in Mexico.


More News

News
More News