Daily Archives: August 5, 2016

Builders Welcome Single Tax Regime of GST

The Goods and Services Tax (GST) could bring in transparency in the functioning of the real estate sector and even reduce the cost of ownership of homes for buyers, especially if the GST rate is lower than all the current rates put together, said builders and tax consultants. These consultants, however, said there’s one problem… Read More »

Govt may take Money Bill route to introduce GST Bill in parliament

The government and the Bharatiya Janata Party (BJP) are confident of a smooth legislative journey for the goods and services tax (GST) over the next few months, both in state assemblies and Parliament. The two are now chalking out a campaign to take the tax reform to the people as an effort that would reduce… Read More »

Category: GST

Govt fixed Inflation Target of 4% & tolerance level

Statutory and Institutionalised framework for Monetary Policy; Central Government in consultation with RBI announces the Inflation Target of Four Percent The Finance Minister had announced in his Budget Speech for 2016-17 the Government’s intention to amend the Reserve Bank of India Act, 1934 (RBI Act) to provide for a statutory and institutionalised framework for a… Read More »

Sixth Schedule after Constitution 101st Amendment Bill 2016

SIXTH SCHEDULE [Articles 244(2) and 275(1)]  [AS AMENDED BY THE CONSTITUTION (ONE HUNDRED AND FIRST AMENDMENT) BILL, 2016 AS PASSED BY RAJYA SABHA ON 3RD AUGUST, 2016] SIXTH SCHEDULE [Articles 244(2) and 275(1)] PROVISIONS AS TO THE ADMINISTRATION OF TRIBAL AREAS IN THE STATES OF ASSAM, MEGHALAYA, TRIPURA AND MIZORAM ***** Powers to assess and… Read More »

Article 368 after Constitution 101st Amendment Bill 2016

ARTICLE 368  [AS AMENDED BY THE CONSTITUTION (ONE HUNDRED AND FIRST AMENDMENT) BILL, 2016 AS PASSED BY RAJYA SABHA ON 3RD AUGUST, 2016] ARTICLE 368   Power of Parliament to amend the Constitution and procedure therefor. 368. (1) Notwithstanding anything in this Constitution, Parliament may in exercise of its constituent power amend by way of… Read More »

Article 366 after Constitution 101st Amendment Bill 2016

ARTICLE 366  [AS AMENDED BY THE CONSTITUTION (ONE HUNDRED AND FIRST AMENDMENT) BILL, 2016 AS PASSED BY RAJYA SABHA ON 3RD AUGUST, 2016] ARTICLE 366 Definitions. 366. In this Constitution, unless the context otherwise requires, the following expressions have the meanings hereby respectively assigned to them, that is to say— (1) “agricultural income” means agricultural… Read More »

Article 279A- Goods and Services Tax Council -after Constitution 101st Amendment act 2016

Article 279A of Constitution of India 1950  [ Article 279A  Inserted by the Constitution (One Hundred and First Amendment) Act, 2016, w.e.f. 12-9-2016. ] Goods and Services Tax Council. 279A. (1) The President shall, within sixty days from the date of commencement of the Constitution (One Hundred and First Amendment) Act, 2016, by order, constitute a… Read More »