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Centre, states reach consensus on GST
In a big relief to the Modi government, a broad consensus has been arrived on Monday at the 9th GST Council meeting between the Centre and the states with almost all pending issues being thrashed out.
New Delhi: In a big relief to the Modi government, a broad consensus has been arrived on Monday at the 9th GST Council meeting between the Centre and the states with almost all pending issues being thrashed out. However, the roll out of the Goods & Service Tax will begin, if not by April 1, by July 1 this year, according to Telangana Finance Minister Eatala Rajender.
Speaking to the media here after the meeting, the TS Finance Minister said that the Centre had conceded ground in leaving 90 per cent dealers in under Rs 1.5 crore annual turnover category within the State government purview and the rest 10 per cent would be under the Centre.
In case of business entities with Rs 1.5 crore turnover and above, the Centre and the respective State will have jurisdiction over 50 per cent each, Eatala explained, adding that in case of differences over GST between the states, the Centre would intervene to resolve the dispute.
Further, the officials of the Centre and the states will sit together to categorize goods under the slabs of 6 per cent, 12 per cent, 18 per cent and 28 per cent taxation system. “The effort will be made to see that there will be no tax on agriculture products and minimum possible tax on the goods used by common people,” he said.
According to the Minister, except West Bengal which wanted a 100 per cent control over the traders with turnover below Rs 1.5 crore, all other states had arrived at consensus on the contentious issues at the meeting.
Eatala urged the Union Finance Minister Arun Jaitley to release CST (Central Sales Tax) dues to the State and also the pending funds under Backward Region Development Grants.
Meanwhile, Finance Minister Arun Jaitley said states would also have the powers to levy tax on economic activity within 12 nautical miles of territorial waters even though such rights constitutionally vested with the Centre, according to agency reports.
Briefing reporters about the decisions taken at the GST Council meeting, he said the power to levy and collect Integrated-GST, a tax on inter-state movement of goods and services, would lie with Centre but by special provisions, states will also be cross-empowered.
He further said the Council will meet on February 18 to approve the drafts of IGST law and other supporting legislations needed for subsuming central and state levies like excise duty and service tax and VAT. GST, he said, now looks realistically possible from July 1 instead of April 1 previously planned.
West Bengal Finance Minister Amit Mitra said he dissented at the Council meeting as his State government wanted 100 per cent of the tax payers up to Rs 1.5 crore turnover to be with states.
Earlier, Kerala Finance Minister T M Thomas Isaac said there was no agreement on the issue of administration of GST, with states continuing to seek sole control over tax payers.
