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ICAI GST Newsletter Volume 1 (Issue 6) – June (2) 2017
Esteemed professional colleagues,
It is indeed a great pleasure to witness and be a part of this the biggest economic reform of the country since independence. The Institute of Chartered Accountants of India (ICAI) welcomes launch and implementation of GST and reiterates its support towards its implementation. GST is based on the concept of “One Nation; One Market; One Tax” and intends to provide a competitive edge to the Indian products in the International market.
For smooth implementation of GST, the Government has recently notified rates for the goods and services under the CGST Act, UTGST Act as well as IGST Act. Also, it had earlier via notifications issued under Central Goods and Services Tax Act and Integrated Goods and Services Tax Act, made some of the provisions of the GST Act effective from 22nd June, 2017. Further, in order to provide the relaxation to the industry, provisions related to return filing for the first two months of the GST implementation have been relaxed along with the postponement of the provisions relating to Tax Deduction at Source and Tax Collection at Source.
Download ICAI GST Newsletter Volume 1 (Issue 6) in PDF (24 Pages): Click Here
Earlier Issue: click here