Goods and Services Tax – GST – Dated:- 4-11-2016 – Statement of the Union Finance Minister after the conclusion of second day of the GST council meeting as on 4-11-2016 There will be an informal meeting of the ministers on November 20, primarily aimed at hammering out political consensus. The GST Council, headed by Jaitley, will meet on November 24-25 after the informal meeting. We will try and thrash out a solution on November 20. This has to be a well thought-out solution, Jaitley said. There was a view that assessees should be divided horizontally with ₹ 1.5 crore be the cut-off base. Under this model, states were to assess businesses with an annual turnover ₹ 1.5 crore, while both the Centre and states were to do so for bus
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