VAT news tagged as "CENVAT"

India

India GST negotiation battles

November 21st, 2016

In the run-up to the 2017 implementation of a Goods and Services Tax in India, the Centre government and States continue to fail to conclude key administrative terms. Currently, negotiations has stalled around whether the Centre or State administers the assessees, the taxable person responsible for paying the GST.  The States are looking to remain …


India

India GST possible delay

November 11th, 2016

The Indian finance minister has hinted that the roll out of the new Goods and Services Tax (GST) may be delayed from April to September 2017. The new indirect tax was finally approved by the Parliament earlier this year after over 10 years of debate. It will replace a complex set of consumptions taxes, including …


India

India GST hits 50% state approval

September 1st, 2016

Over 50% of the Indian states have now approved the implementation of the new Goods & Services Tax Bill. This means the legislation can now been approved by the President of the country. The final obstacle, setting a nation-wide GST rate, remains to be overcome.  The should be resolved in November Odisha was the 16th …


India

Indian states ratifying GST

August 23rd, 2016

Dehli is one of the early states to review and ratify the new Goods & Services Tax legislation. The constitutional amendment Bill was passed by the Parliament earlier this month, and must now be passed by 15 of more states. To date, six have approved it, including Gujarat, Assam, Bihar, Jharkhand, Himachal Pradesh and Chattisgarh. …


India

India approves GST

August 3rd, 2016

India ratifies new Goods & Services Tax to boost growth India’s Upper House, the Raiya Sabha, today (Wednesday 3 Aug) initiated the most important tax reform in the country’s modern history by passing the implementation Bill for a new Goods & Services Tax (GST). . However, the contentious issue of a rate …


India

India GST progress

August 1st, 2016

Further progress has been made in India on the negotiations around the last contentious issues blocking the new Goods & Services Tax (‘GST’). It is anticipated that the new tax will be finally approved this week after 16 years of discussion. The implementation bill will be presented to Parliament (Rajya Sabha) this week (Wednesday) and …


India

Indian GST update

July 9th, 2016

Discussions between the governing BJP and opposition Congress parties are continuing as both sides look to solve the last issues to secure an implementation of the new indirect tax in 2017. Congress has blocked the progress of the Constitutional Amendment Bill, which would introduce GST to replace VAT, CENVAT, Service Tax and others. The party …


India

India GST launch opposition

June 4th, 2016

India’s opposition, the Congress party, continues to block the passage of the Goods and Services Tax (GST) bill. GST will replace a range of indirect taxes, including: CENVAT; VAT; Professional Tax; and Service Tax. Many of these taxes overlap, are complex and expensive to comply with and result in double taxation on the movement of …


India

India deadlock on GST rate

April 2nd, 2016

Negotiations for the implementation of the new Goods & Services regime in India remain in deadlock. The opposition Congress party remains adamant that the ruling BJP party must commit to a headline GST rate of below 20%. The reform of the existing plethora of VAT, Service Tax, CENVAT and other indirect taxes is seen as …