Goods and Services Tax – GST Dated:- 15-5-2021 – News – New Delhi, May 15 (PTI) – Amid a growing chorus over the GST Council meeting not being convened for over seven months, the Union Finance Ministry on Saturday announced that the next meeting of the panel that decides on taxes on goods and services will be held on May 28. After over a dozen central and state levies such as excise duty, service tax and VAT were subsumed in a nationwide Goods and Services Tax (GST) in 2017, the Council, headed by Union Finance Minister and including representatives of all states and union territories, was mandated to meet every quarter to deliberate on issues at hand. The GST Council last met on October 5, 2020 to finalise contours
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e meeting to discuss the issue of compensation shortfall to states and other pending items. You are kindly aware that the GST Council was mandated to meet once in every quarter. Unfortunately, this solemn mandate has been violated twice over, by not calling a meeting of the Council for two consecutive quarters – not even virtually. This has undermined a federal institution, where all states are represented irrespective of political parties, regions or size of population, along with the Government of India. I fear that not holding meetings regularly also lead to a trust deficit, Mitra wrote. When GST was implemented, states were promised that they will be compensated for any shortfall in tax revenues arising out of th
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