GST Overview

The Academy Of Accounting Professionals takes a small effort to educate you on GST. A pune based educational institute having its expertise in Accounts & Taxation provides practical knowledge for Accounts, Taxation, GST and helps its students to fetch jobs. Since GST is a new topic for all, this is a small effort from us…

Updates on GST

This is to inform you that while addressing the gathering at FICCI on 17th July 2015, the CBEC Member, Mr. V S Krishnan, said that the Central Government is committed to implement GST from April 1, 2016 and a model legislation for the States are being drafted. He added that the reports of various Committees/sub-committees…

GST – (Goods & Service Tax)

The introduction of GST is being seen as second major tax reform after 1991. GST is in the limelight again and everyone wants to have a talk about it. What is GST? GST is the abreviated form of Goods & Service Tax. It is a new tax regime to be implemented under which ” single…

GST Update on 22-07-2010

Govt pegs GST at 20% in year one, single rate at 16% by 2014

New Delhi July 22, 2010

Three-year road map to kick off in April next year with three rates.

Finance Minister Pranab Mukherjee today unveiled a three-year plan for moving to a single-rate goods and services tax (GST) regime of 16 per cent for the Centre as well as the states.

To begin with, next year, he suggested, the Centre will adopt a three-rate formula. While Mukherjee proposed that the rate of taxation for services be fixed at 8 per cent, a dual-rate regime for goods was recommended at the meeting of the empowered committee of state finance ministers. The Centre plans to keep a lower rate of 6 per cent for certain goods and maintain a standard rate of 10 per cent in the first year.