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GST, a loss to States:All India Confederation of Commercial Taxes Associations
Addressing the gathering, AICCTA national president K R Suryanarayana said that the Central government had taken over the revenue sources from the State in the name of reforms through the GST Act. He said that Goods taxes had been with the States all these years, while Services tax was with the Centre. The present Act, said Suryanarayana allowed the Centre to walk away with a major chunk of the ta
Vijayawada: Members of the All India Confederation of Commercial Taxes Associations (AICCTA) held a massive protest at the Commercial Taxes State headquarters Wednesday protesting against the Central government taking away a major share of revenue from States in the name of the new GST Act.
Addressing the gathering, AICCTA national president K R Suryanarayana said that the Central government had taken over the revenue sources from the State in the name of reforms through the GST Act. He said that Goods taxes had been with the States all these years, while Services tax was with the Centre. The present Act, said Suryanarayana allowed the Centre to walk away with a major chunk of the tax revenues.
In the name of devolution of 42 percent funds to the States, the Central government had taken away major share from the States by gaining control over the goods tax, he said. He further said that the Central government had also introduced several changes to the services and had brought builders, contractors, hotels, parks, malls etc under its control. This would also cause a major loss to the State’s revenue, he said.
