Current Affairs
Select Date

GST Dual Control Meet remains inconclusive - Meet again on Nov 25 

After nailing a four-tier rate structure of 5, 12, 18 and 28 per cent, the GST Council yet again on Friday failed to arrive at a consensus over which category of assessees should be governed by the Centre and which by states, a disagreement that threatens to derail the April 1 target for rollout of the new indirect tax regime.
●    Jaitley, who had previously stated that he hoped for all modalities for the GST to be finalised by November 22, was still hopeful of getting the supporting legislations during the ensuing Winter Session of Parliament from November 16.
●    Differences on the issue of cross empowerment to avoid dual control arose with states demanding control over 11 lakh service tax assessees, and Centre proposing to do away states having exclusive control over all dealers up to an annual revenue threshold of `1.5 crore -- an issue which was settled in the first meeting of the GST Council.
●    The GST Council meetings, earlier called for November 9 and 10, have been scheduled to meet on November 24 and 25. 
●    Speaking on the draft CGST , SGST and IGST legislations, the minister said, Jaitley said it will be sent to states after November 15 and the GST Council in November 24-25 meeting will approve them. 


All Rights Reserved Top Rankers