Centre-state talks on goods, service tax rollout inconclusive
January 8th, 2010 - 9:03 pm ICT by IANS
New Delhi, Jan 8 (IANS) For the second consecutive day Friday, talks between Finance Minister Pranab Mukherjee and state finance ministers to reach a consensus on the Goods and Service Tax (GST), to be applicable nationwide from April 1, remained inconclusive.
The finance minister has asked the empowered committee of state finance ministers, headed by West Bengal Finance Minister Asim Sengupta, to work out a GST package whereby states have to share 50 percent of the losses due to Central Sales Tax for the current financial year.
“We will have to discuss this proposal with the state finance ministers. He (Pranab Mukherjee) has asked us to come back with the new GST package. It would be about Rs.14,000 crore,” Sengupta told reporters after the meeting.
The government had set a target for uniform rollout of GST for April 1 but states are not willing to give up their powers that let them levy taxes unilaterally.
The government was expected to make an announcement Friday concerning deferring of the GST.
According to a finance ministry official, the empowered committee members will meet the finance minister again after working out the GST package.
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- Date for uniform goods and services tax Jan 8: Dasgupta - Dec 25, 2009
- FICCI wants flat 12 percent GST and all sectors under it - Aug 18, 2011
- Government working for early implementation of GST: Mukherjee - Feb 22, 2012
- GST likely to come into effect from next fiscal: Sushil Modi - Apr 18, 2012
- Doubtful if GST will roll out from next year: Walia - Nov 01, 2010
- Goods and services tax bill in budget session: Pranab - Feb 28, 2011
- CII, FICCI welcome withdrawal of service tax on healthcare - Mar 22, 2011
- Mukherjee announces withdrawal of service tax on healthcare - Mar 22, 2011
- Cabinet clears GST Amendment Bill - Mar 15, 2011
- Goods tax to be 20 percent, essential commodities levy lesser (Lead) - Jul 21, 2010
- Finance ministry hopeful of breaking GST deadlock - Oct 29, 2010
Tags: april 1, asim, committee members, consensus, finance minister, finance ministers, finance ministry official, gst package, losses, New Delhi, pranab mukherjee, proposal, sales tax, state finance, target, west bengal