Home / Business / Money / GST deadlock persists as state FMs stick to their demands

GST deadlock persists as state FMs stick to their demands

States also want the threshold limit for GST levy to be kept at Rs 10 lakh while the limit for dual control of GST is being recommended at Rs 1.5 crore, along with legislative powers for states.

The State Finance Minister’s panel is sticking to its guns on demands made for the Constitutional Amendment Bill. States have yet to hear from the Centre on their demands which include keeping petroleum products out of GST, and a five year compensation mechanism in the Constitutional Bill. States also want the threshold limit for GST levy to be kept at Rs 10 lakh while the limit for dual control of GST is being recommended at Rs 1.5 crore, along with legislative powers for states.

Abdul Rahim Rather, chairman of the GST Panel however said that the reservations voiced by the states have been taken care of.

Also Read: Will Gujarat cripple Modi’s GST bid?

More to follow

Leave a Reply

x

Check Also

Rupee recovers 6 paise to 67.01

The rupee today recovered some lost ground by rising 6 paise to ...

Notes ban to have positive impact on economy

NEW DELHI: The government’s demonetisation move has led to widespread adoption of ...