Home > Nation > No consensus at GST Council, next meet on December 11-12

No consensus at GST Council, next meet on December 11-12

 M Post Bureau |  2016-12-04 23:30:23.0  |  New Delhi

The GST Council on Saturday failed to reach consensus on the contentious issue of dual control and will meet again on December 11 and 12 to hammer out the differences.

 “There is no consensus... we were not able to arrive at a consensus regarding the cross empowerment model. Therefore, the GST laws could not be completed. No compensation law is taken up, but formula has arrived and we will rediscuss them,” Kerala Finance Minister Thomas Issac told reporters here after the two-day meeting. 

The next meeting of the Council, according to an official, will be on December 11 and 12. The fifth meeting of the Goods and Services Tax (GST) Council, headed by Union Finance Minister Arun Jaitley and comprising state finance ministers, ended on Saturday.

 “The state finance ministers (FMs) wanted a discussion on the fiscal situation of states after demonetisation. But it does not come under the purview of GST council, because it covers only indirect tax,” Jaitley told media persons after the fifth Council meet here.

 “After the GST council meet, the FMs discussed the situation of demonetisation. Political stand of parties was reflected more in the discussions,” he added. West Bengal Finance Minister Amit Mitra told media persons that the issue was raised by all states at the Council meet as their revenues have been hit hard.

“Tax collections of states and Centre will be low (because of demonetisation). States are deeply concerned about their falling revenues. How do we implement the health and education programmes of the states,” he added.

M Post Bureau

M Post Bureau

Millennium Post Contributors help bring you the latest news around you.


Share it
Top