Commerce Club

The Cen­tre is learnt to have turned down a key demand from min­er­al-rich, grain-pro­duc­ing and man­u­fac­tur­ing states that they must be giv­en a por­tion of the Centre’s rev­enue from GST on inter­state trade to off­set their per­ceived rev­enue loss to “con­sump­tion states” in the GST regime. It has also reject­ed a pro­pos­al from all states that the man­date of dis­pute res­o­lu­tion should not be giv­en to the pro­posed GST Coun­cil, which is meant to have a con­sti­tu­tion­al role. These demands were made by respec­tive states as a pre­con­di­tion for their adop­tion of the supe­ri­or tax sys­tem that would avoid cas­cad­ing of tax­es and reduce the mul­ti­plic­i­ty of indi­rect taxes.

FE had ear­li­er report­ed that states like.….

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Prime Min­is­ter Naren­dra Modi has giv­en direc­tions for Goods and Ser­vices Tax to be rolled out by April 2016. Modi met finance min­is­ter Arun Jait­ley on Mon­day to judge how far the GST prepa­ra­tions have moved. Accord­ing to Jait­ley, the…

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The gov­ern­ment has pre­pared a revised Con­sti­tu­tion Amend­ment Bill for the Goods and Ser­vices Tax that large­ly accom­mo­dates the demands made by states. The gov­ern­ment has set a tar­get of 2016 for the launch of the pan-India indi­rect tax regime.…

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