Business Other News 05 Nov 2016 Centre, states vie f ...

Centre, states vie for GST power

DECCAN CHRONICLE. | PAWAN BALI
Published Nov 5, 2016, 3:13 am IST
Updated Nov 5, 2016, 3:14 am IST
Centre and states on Friday failed to agree on the issue of who will assess whom under the proposed GST.
Earlier it was decided that state will look at goods tax and Centre at service tax.
 Earlier it was decided that state will look at goods tax and Centre at service tax.

New Delhi: In a set back, Centre and states on Friday failed to agree on the issue of who will assess whom under the proposed GST. Earlier it was decided that state will look at goods tax and Centre at service tax. However, the issue again cropped up as it was realised that there are some industries or people who are registered as both.

States are demanding control over 11 lakh service tax assesses, and Centre is proposing to do away states having exclusive control over all dealers up to an annual revenue threshold of `1.5 crore. The Council on Friday discussed horizontal and vertical division of tax payers under GST.

 

After the meeting, Union finance minister Arun Jaitley said all pros and cons have to be weighed before deciding on the issues of cross empowerment to ensure single interface under GST, which will subsume excise, service tax, VAT and other local levies. “In order to resolve it we will have an informal meeting of the ministers, in order to find a political solution to this problem, and we will try and thrash out a solution on the November 20 between these options or may be a hybrid option of this,” he said. He said that one asseessee should not be subjected to multiple assessment.

 

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
-->