New Delhi: Logjam on the vital question who will control which set of assessees under GST persists as the Centre and states failed to reach any understanding on this matter at a crucial meeting here today.
The GST Council will take up this matter when it meets on November 25.
April 1, 2017 onwards, government aims to roll out GST, which will subsume excise, service tax and local levies
A meeting of Union Finance Minister and state finance ministers was held today to address the issue of sharing of administrative control under the proposed goods and services tax (GST) regime.
After today’s meeting Finance Minister Arun Jaitley told media-persons that the meeting has remained incomplete. Discussions, according to Jaitley, will continue when the GST Council meets formally on November 25.
Uttarakhand, West Bengal, Tamil Nadu and Kerala and Uttar Pradesh want full control over small businesses that earn less than Rs 1.5 crore in a financial year both in terms of goods and services.