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NO CONSENSUS ON GST ADMINISTRATION

Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 23-11-2016 Last Replied Date:- 24-11-2016 - GST may suffer at the cost of recent demonetization of high vale currency announced by the Government which came just before the scheduled winter session of Parliament from 16th November, 2016. To oppose demonetization, almost entire opposition has united to corner and question the Government. We have already witnessed loss of first week in the four week current session. The trailer came .....

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e. Since no consensus could be reached, positive outcome of 25th November meeting is also in limbo. States like West Bengal, Uttar Pradesh, Uttarakhand, Kerala, Karnataka etc. have opposed such move and want sole control over adjudication, audit etc for dual assessees. Centre is agreeable on goods but desirous to retain Service Tax assessees. The draft of legislation is also to be approved by the GST Council before it goes to the Parliament. So far as division of jurisdiction is concerned, there .....

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5 crore would be administered solely by the State. 'Vertical Division', based on ratios, assigns taxpayers to a tax administration, Centre or State, for a period of three years for all purposes, including audit. It is learnt that the Centre is keen on a vertical split wherein certain percentage of taxpayers are under central administration and the balance under the states. The percentage could also be the sticking point in this case and the Centre is willing to give a bigger share to sta .....

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