As many as 80 lakh assessees of excise
as well as service tax and VAT can start migrating their registration to the
Goods and Service Tax Network portal by November 8, GSTN chief executive
Prakash Kumar said. "On this date (November 8), we are releasing
enrollments. This means getting these existing eight million assessees on to our
system," Kumar was quoted as saying by a PHDCCI release, report PTI. The
GSTN, which is expected to provide common and shared IT infrastructure for GST
implementation, will transfer on-board to its platform the details of about 80
lakh existing assessees of excise, value-added tax, customs and service tax.
Kumar said the migration of assessee details onto the GSTN platform will sort
out inconsistencies and help industry get ready for GST implementation date of
April 1, 2017. "This move will help them do business without any hassle
from April 1 next year, which is the likely GST implementation date,"
Kumar said. GSTN, a not-for-profit entity incorporated in March 2013, has been
set up primarily to provide IT infrastructure and services to the central and
state governments, taxpayers and other stakeholders for implementation of GST.
It has also been allowed to partner with other agencies for creating an
efficient and user-friendly GST eco-system. Kumar also said that GSTN will in
the coming days obtain imports related data (Bill of Entry) from the Central
Board of Excise Customs (CBEC). This will be useful for levy of iGST (GST levy
on imports). The GST will subsume excise, service tax and other local levies
and will make India one market for seamless transfer of goods and services. The
GST Council, consisting of Union Finance Minister and his state counterparts,
is likely to decide on the tax rates in their upcoming November meeting.
Ex-finance minister PC terms
multiple rate GST as “disastrous”
The
proposed multiple rate GST structure will be "disastrous" and nothing
more than same old VAT rates in a "new shape", former finance
minister P Chidambaram. "We sincerely hope that we do not misinterpret the
design of standard, standard minus and plus rates of GST.We can have 20 rates.
It will be disastrous and that cannot be GST, it will be fooling the country,"
Chidambaram told an interactive session with IIM Calcutta students on economic
reforms, reports PTI. "A well designed GST is expected to have standard
rate, plus and minus standard rate.That latitude interpreted to me as multiple
rate - zero to 100 - that's not GST.That is simply existing VAT rates in a new
shape, old wine in a new bottle," he said. He said he hoped better counsel
would prevail which would reduce the number of rates to "three or
so". The new Goods and Services Tax (GST) will subsume a number of
indirect taxes at the state as well as central level and is targeted for
rollout from April 1, 2017. About states disagreeing and joining the second
wave of GST reform, Chidambaram said that even when UPA had implemented VAT,
some had not joined initially and they had joined later, and so eventually all
states will fall in line. "Whatever, be the standard rates it will raise
service tax," he said. At the GST Council meeting last week, there was
virtual consensus among states on imposing of the cess, which tax experts and
industry have opposed vehemently, saying it defeats the very concept of
one-nation, one-tax. Besides, a four-slab tax structure of 6, 12, 18 and 26 per
cent with lower tariff for essential items and the highest bracket for luxury
and sin goods also found favour with them but a decision was put off to the
next meeting on November 3-4.
From Sources :-
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