"Six Central Tax notifications and two Integrated Tax notifications issued...........Finally approved five Rules and related formats as approved by GST Council have been uploaded.....Certain sections of the CGST Act, 2017 came into force w.e.f. 22.06.2017 - i.e Definitions, Administrations, Composition, Registration, Migration, Common Portal, Power to make rule - 01/2017 - Dated 19-6-2017 - Central GST (CGST)....                      

Goods and Service Tax [GST] An Introduction

It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. In a nutshell, only value addition will be taxed and burden of tax is to be borne by the final consumer.
A GST Council will be formed after that with states and the centre as members. This council will recommend rates and other modalities for GST, which will replace a raft of different state and local taxes with a single unified value added tax system turning India into world's biggest single market.

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Latest News on GST
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  • # The government will not blink on rolling out the GST from July 1, Finance Minister Arun Jaitley said today, emphasising that businesses cannot give any excuse for not being ready as enough time was given to them for preparation.

    # Industry body CII today said India Inc is ready for the GST implementation from July 1, as the new indirect tax regime will contribute significantly towards economic growth, job creation and exports expansion.

    # Govt all set to ring in GST at stroke of June 30 mid-night

    # Tamil Nadu assembly adopts GST bill amid DMK walkout

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    GST on Export Oriented Units


    The EOU scheme envisages the establishment of units anywhere in the Country with the objective of exporting their production. The EOU shcme was launched on 31-12-1980 by the Ministry of Commerce and Industry. The Chapter IX Procedure of Customs Act are applicable to EOU, the warehousing provision provide control over movement of duty free imported goods and accounting thereof.


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