Centre yet to address states' concerns over GST: Modi
Quotes

Centre yet to address states' concerns over GST: Modi

Last Updated: Saturday, June 02, 2012, 19:26
 
 Comment 0
 
Centre yet to address states' concerns over GST: Modi
Mumbai: The Centre is yet to address the concerns of states on the proposed Goods and Services Tax (GST) regime, particularly those related to fiscal autonomy, Chairman of the Empowered Committee of State Finance Ministers Sushilkumar Modi said on Saturday.

"The Centre needs to address the concerns of the states to ensure its rollout. Moreover, the ongoing political uncertainties at the Centre may also create some hurdles," Modi said addressing a seminar on GST.

Calling for more interaction between the Centre and the states to resolve the differences, Modi said the government is yet to assure the states on fiscal autonomy, powers to fix tax rates and impose levies, compensating them for revenue loss and establishing a dispute settlement authority.

"The major concern is with regard to fiscal autonomy. Some states are of the view that the constitutional amendment will take away their fiscal autonomy," he added.

Modi said, however, the Parliamentary panel on GST is expected to submit final report before the Monsoon Session.

"We are inching towards GST rollout, but not very fast. One of the major obstacles has been crossed as Parliamentary Standing Committee on Finance will start deliberations from June 8 on the GST Constitutional Amendment Bill," Modi told a seminar on GST here.

"Committee Chairman Yashwant Sinha has assured me to complete deliberations and prepare the report before the Monsoon session," he added.

However, Modi refused to set a deadline for GST rollout, saying, "I can't give you a deadline on GST implementation as the states have many apprehensions about the actual import of the new common tax regime."

PTI



First Published: Saturday, June 02, 2012, 19:26


Comments


comments powered by Disqus
New York Auto Show: 2015 Subaru Outback
New York Auto Show: 2015 Subaru Outback
New York Auto Show: Dodge Hot Cars
New York Auto Show: Dodge Hot Cars
New York Auto Show 2014: Hot Cars
New York Auto Show 2014: Hot Cars
Top 10 Fastest-Emerging Cities
Top 10 Fastest-Emerging Cities
Top Businesswomen in India
Top Businesswomen in India

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved