Panjim, Oct 31 (PTI) The Finance Ministry is unlikely to bow to the Empowered Committee of State Finance Ministers' demand for altering the basic structure of the proposed Goods and Services Tax to make the new indirect tax regime more acceptable to states.
"Any changes in the basic structure in GST would not be acceptable to the Centre. The functioning of Dispute Settlement Body and GST Council is at the core of the GST structure," a Finance Ministry official told PTI.
The Centre has framed a draft Constitution Amendment Bill for roll-out of GST. However, state finance ministers have railed against the inclusion of provisions for setting up a Goods and Services Tax (GST) Council, with the Union Finance Minister as the chairman, to take collective decisions on the state subject of indirect taxes.
