Jaitley looks to break deadlock at GST meeting today
GST
Dated:- 16-1-2017
New Delhi, (PTI) Finance Minister Arun Jaitley will today look to break the deadlock over distribution of powers between centre and states to administer GST, an issue that is holding up launch of the new national sales tax from April.
\nThe all-powerful GST Council, headed by Jaitley, will meet for the ninth time today with the issue of who gets to administer the Goods and Services Tax (GST) being the single biggest issue on agenda.
\nThe council has been deadlocked in the last four meetings, the last one being on January 4, with states seeking sole powers to control assessee with annual turnover of up to ₹ 1.5 crore.
\nCentre, however, is not in fav<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n e created for compensating states for loss of revenue from GST rollout may figure in today's meeting, sources said. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Jaitley looks to break deadlock at GST meeting today GSTDated:- 16-1-2017New Delhi, (PTI) Finance Minister Arun Jaitley will today look to break the deadlock over distribution of powers between centre and states to administer GST, an issue that is holding up launch of the new national sales tax from April. The all-powerful GST Council, headed … Continue reading “Jaitley looks to break deadlock at GST meeting today”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-2113","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/2113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2113"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/2113\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nThe council had in previous meeting agreed on most of the clauses of the draft IGST law, which along with Central-GST (CGST) and State-GST (SGST) have to be passed by the Parliament and state legislatives respectively before the new tax regime can be rolled out.
\nInterated-GST or IGST deals with levy on inter-state supply (including stock transfers) of goods or services.
\nGST will subsume a host of indirect taxes levied by the centre and the states, including excise duty, value-added tax, service tax, entry tax, luxury tax and entertainment tax.
\nThe Parliament passed the landmark constitutional amendment in August last y<\/p>\n
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