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lawcruxadvisors


Member Since: 22nd October 2010
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No of Articles: 10
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08th December 2011

Goods and Services Tax (Malaysia)

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 ...

06th December 2011

GST in CANADA

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% Manufacturersí Sales Tax (MST); Mulroney claimed t...

29th November 2011

IGST MODEL - AN INNOVATIVE IDEA

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 ...

23rd November 2011

GST: DELAY IN IMPLEMENTATION

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. So...

11th November 2011

TAX ADMINISTRATION IN GST REGIME

The scheme of GST should be supported by a strong tax-administration infrastructure for itís 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, ...

04th November 2011

GST: IMPACT ON THE POOR

GST is a destination based consumption tax. Consumption taxes are regressive in nature. It increases the gap between the rich and the poor. The pertinent point is whether such tax would be fruitful for the economy as a whole or not? Is it not so that shif...

17th October 2011

A COMPARATIVE VIEW ON GOODS AND SERVICES TAX

This comparison is based on the recommendations of the First Discussion Paper produced by the Empowered committee of states finance ministers (hereafter referred as EC) and the Report of the Task Force on GST constituted by the Thirteenth Finance commissi...

26th September 2011

DEFICIENCY IN COLLECTION OF INDIRECT TAX THIS YEAR

The revenue growth target for this year is challenging a change in tune from an hot tempered optimist about the economy that has triggered concerns tax collections may drop sharply as economic activity slows. The task before the tax officials is very chal...

26th January 2011

Can This New Year Bring Consensus

Just like all other years, year 2010 had also passed. We all would recall this year for different reasons and at different points of time in our life but our Finance Minister would definitely recall this and that too for an important reason i.e. Goods and...

07th January 2011

GOVERNMENT IS LOOSING ITS MOMENTUM

The idea of dropping the most quarrelsome issue of Constitutional Amendment from the recently concluded meeting of the Empowered Committee of the State Finance Ministers didnít work well for the Government as it also failed to provide any fruitful results...