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News GST

  • Sep 12, 2014
  • Gujarat suggests innovative way out of GST deadlock

    In a sign of serious efforts by the Centre and states to iron out the differences over the design of the goods and services tax (GST), the Gujarat government has come out with an innovative proposal to address the concerns of “manufacturing states” that the proposed destination-based tax would deprive them of legitimate tax revenue.At a meeting between finance ministry officials of the central government and representatives of states here on Thursday, additional chief secretary to the Gujarat government Hasmukh Adhia suggested that proceeds from 2 percentage points of the Centre’s GST levy on inter-state transactions be transferred to states that supplied the good or service.

    Source - http://www.financialexpress.com