GST deadline has been deferred to July 1: FM Jaitley

January 16, 2017 18:14

Finance Minister Arun Jaitley is addressing the media on GST.

Here are the live updates:

-- The entire taxation base will be shared between the assessment and machinery of the Centre and the states.

-- Those above turnover 1.5 crores would be assessed in the ratio of 50:50 between Centre and state.

--All assesses with GST turnover of Rs. 1.5 crore or less, 90 per cent of them will be assessed by States & 10 per cent by administrative machinery of Centre.

--States will also be cross empowered on the ratio mentioned earlier.

-- GST deadline has been deferred to July 1

« Back to LIVE

TOP STORIES

Not changing 2G judgment, non-auction allocation only for...: Sources

The government is not seeking to change the 2012 Supreme Court judgment that backed auction as the preferred mode of allocating telecom spectrum except for narrowly defined sectors such as satellite communication and defence where the...

It's Modi govt that wanted to bring inheritance tax: Cong

Amid the row over Congress leader Sam Pitroda's remarks, the party on Wednesday asserted that it has no plans whatsoever to introduce an inheritance tax and cited former Union minister Jayant Sinha's remarks to allege that it is the Modi...

'Can't control polls': SC to EVM critics as it reserves order

The Supreme Court said on Wednesday it cannot 'control the elections' or issue directions simply because doubts have been raised about the efficacy of Electronic Voting Machines (EVM), as it reserved its judgment on a clutch of petitions...

Modi's 'redistribution' charge against Cong gets Pitroda's booster

In his poll rallies, Modi framed Pitroda's comments in his wider onslaught against the Congress, asserting that they have exposed its hidden agenda and that the party has become so removed from the country's social and family values that...

IPL PIX: Pant shines as spirited Delhi Capitals edge Titans

Rishabh Pant's belligerent unbeaten half-century helped Delhi Capitals' to a narrow four-run win over Gujarat Titans.