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GST Council meeting inconclusive state FM s to meet on Nov 20 to sort out issues

Goods and Services Tax - GST - Dated:- 4-11-2016 - Statement of the Union Finance Minister after the conclusion of second day of the GST council meeting as on 4-11-2016 There will be an informal meeting of the ministers on November 20, primarily aimed at hammering out political consensus. The GST Council, headed by Jaitley, will meet on November 24-25 after the informal meeting. We will try and thrash out a solution on November 20. This has to be a well thought-out solution, Jaitley said. There .....

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part of the discussion . The Council s next meeting on November 9-10 has been cancelled. Central and state government officers will prepare the drafts of four supplementary bills dealing with CGST, SGST, IGST and the compensation law. Under the new system, the states and the Centre will collect identical rates of taxes on goods and services. For instance, if 18 percent is the GST rate on a good across the country, the states and the Centre will get 9 percent each called the CGST and SGST rates. .....

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