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GST panel puts off rate decision to November

Goods and Services Tax - GST - Dated:- 20-10-2016 - Centre and states yesterday failed to decide the tax rate under the new GST regime even though they converged towards a consensus on levying a cess in addition to the highest rate of tax on luxury and sin goods. There were differences on the issue of dual control with states demanding control over 11 lakh service tax assessees, and Centre proposing to do away states having exclusive control over all dealers up to an annual revenue threshold of .....

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-nation, one-tax. A four-slab tax structure of 6, 12, 18 and 26 per cent with lower tariff for essential items and the highest bracket for luxury and sin goods also found favour with them but a decision was put off to the next meeting on November 3-4. Finance Minister Arun Jaitley said the GST Council, that includes representatives of all states, will meet again next month and decide on tax rates. The discussion that slab should be least is a good discussion. But if we lose tax revenue or levy v .....

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