Here's the recent articles submitted by nagesh bajaj
Articles By nagesh bajaj
Tax Administration In Gst Regime
By: nagesh bajaj
The scheme of GST should be supported by a strong tax-administration infrastructure for it's optimum success. Without an efficient tax-administration the implementation of goods and services tax will be just like pouring water in the bottomless bowl. So, the structure, design and the business process of tax administration is an important factor in the determination of the revenue performance. To put in the words of Casanegra de Jantscher, “tax administration is tax policy.”(read
entire article)
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Category : Business
Gst And Its Dependency On It Infrastructure
By: nagesh bajaj
IT infrastructure will be one of the basic requirements for successful implementation of Goods and Services tax. It should be well in place before introduction of GST. Based on the experience of different state governments, we can say that without an efficient e-governance it is not possible to administer value added tax regime effectively. The Input Tax Credit (ITC) is an important aspect of VAT and it is difficult to monitor ITC in the absence of fully developed computerized system.(read
entire article)
View : 62 Times
Category : Business
Gst: Delay In Implementation
By: nagesh bajaj
In 2006, the UPA Government announced that a comprehensive GST would be launched on 1st April, 2010 and it was believed that the introduction of GST is a difficult task, as our current structure of indirect taxes is driven by the multiplicity of taxes. Some levied by the Centre and others by the States.(read
entire article)
View : 53 Times
Category : Business
Gst And Fiscal Autonomy To The States
By: nagesh bajaj
The proposed GST Scheme has created a sense of fear among states that they will lose their autonomy over levy of taxes. Presently, states enjoy total autonomy atleast in respect of state taxes. It is upto state governments to decide – what to levy, type of levy, rate of tax and how to tax.(read
entire article)
View : 54 Times
Category : Business
Igst Model - An Innovative Idea
By: nagesh bajaj
The First Discussion Paper produced by the Empowered Committee of state Finance Ministers has come out with an innovative way to deal with inter-state transaction of goods and services. The forthcoming GST will be dual in nature and will be levied on all transactions of goods and services. Centre will impose CGST while the state will impose SGST on the same transaction. IGST will be combination of these two, i.e., (CGST plus SGST).(read
entire article)
View : 51 Times
Category : Business
Gst And Trade
By: nagesh bajaj
In GST, Exports would be zero rated. As a result, the exporters will be eligible to claim the refund of the eligible input tax credits subject to conditions, limitation and procedures. Similar benefits may be given to Special Economics Zones (SEZs). Such benefits will only be allowed to the processing zones of the SEZs. No benefit to the Sales from an SEZ to Domestic Tariff Area (DTA) will be allowed.(read
entire article)
View : 45 Times
Category : Business
Gst In Australia
By: nagesh bajaj
In Australia, administration of the GST is handled by the Australian Taxation Office known as A.T.O. Australian Taxation Office are expressed in Public Rulings and there are more than 70 Public Rulings concerning the operation of the GST.(read
entire article)
View : 59 Times
Category : Business
Gst In Canada
By: nagesh bajaj
In Canada Goods and Services Tax (GST) is a multi-level value added tax introduced on January 1, 1991, by Prime Minister Brian Mulroney and Finance Minister Michael Wilson. The GST replaced a hidden 13.5% Manufacturers' Sales Tax (MST);(read
entire article)
View : 54 Times
Category : Business
Goods And Services Tax (new Zealand)
By: nagesh bajaj
Goods and services tax (GST) is an indirect tax introduced in New Zealand on October 1, 1986 at 10%, and later increased to 12.5% on July 1, 1989, and is to be increased to 15% on October 1, 2010. This brought a major change in New Zealand taxation policy as until this point almost all revenue had been raised through direct taxes. Now 19% of the New Zealand Government's core revenue comes from GST.(read
entire article)
View : 49 Times
Category : Business
Goods And Services Tax (malaysia)
By: nagesh bajaj
Goods and Services Tax in Malaysia may be implemented by the Malaysian Government somewhere in the third Quarter of 2011. 4% GST will replace the current sales and service tax currently levied at rates between 5% and 10%. Companies with revenue RM 500,000 and below would be exempted from imposing GST and about 70% of small and medium sized industries would also be exempted.(read
entire article)
View : 49 Times
Category : Business
