NO CONSENSUS ON GST ADMINISTRATION
By: – Dr. Sanjiv Agarwal
Goods and Services Tax – GST
Dated:- 23-11-2016
GST may suffer at the cost of recent demonetization of high vale currency announced by the Government which came just before the scheduled winter session of Parliament from 16th November, 2016.
To oppose demonetization, almost entire opposition has united to corner and question the Government. We have already witnessed loss of first week in the four week current session.
The trailer came yesterday with the informal meeting of all Finance Ministers of states and union ending in just two hours on Sunday without any result or positive conclusion. Not only this, the two day meeting of the GST Council scheduled for 24-25
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is concerned, there are two options being discussed now. The GST Council was earlier discussing five proposals for deciding on jurisdiction, but in the last meeting on November 4, arrived at two options – horizontal division and vertical division. 'Horizontal Division' would mean taxpayers would be divided both for administrative and audit purposes based on a cut off turnover. Those with a turnover over ₹ 1.5 crore would be administered both by the Centre and states, while those with below ₹ 1.5 crore would be administered solely by the State. 'Vertical Division', based on ratios, assigns taxpayers to a tax administration, Centre or State, for a period of three years for all purposes, including audit.
It is lea
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in GST coming in April, 2017 and their major concern and attention may be to address fall out of demonetization. These parties may be impacted but they are opposing it in the guise of inconvenience and hardship to poor and common people.
It appears that chances of GST roll out from April, 2017 seems to be bleak as Government struggles with demonetization's political fallout. With the present opposition, any talks on GST may be futile. If not April, then let's hope for September, 2017 which is the ultimate dead line. Better late than never. By then, effect of demonetization will also stabilize.
Reply By Ganeshan Kalyani as =
Sir , is there any possibility during budget session.
Dated: 24-11-2016
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