India GST launch advances
- 1 April 2017 | Richard Asquith
The lower house of the Indian parliament (Lok Sabha) has approved this week 4 key bills for the implementation of a new Goods and Services Tax on 1 July. The bills include:
- The Central GST Bill
- The Integrated GST Bill
- The Union Territory GST Bill
- The GST Compensation Bill.
A further law, the State GST Tax Bill will past through the local states’ assemblies.
The new indirect tax will introduce 4 rates of indirect tax (5%, 12%, 18% and 28%), replacing many overlapping and bureaucratic taxes including VAT and Service Tax.
India has extended by 5 days the deadline for the filing of September's Goods and Services Tax return. The new filing deadline for the GSTR-3B...
India has confirmed the GST withholding rates for online marketplaces handling third party transactions. Tax Collected at Source (TCS) is a means of collecting income tax...
India has announced an extended deadline for the GSTR-1 return which lists taxable sales for each reporting period. It is generally due by the 10thof...