Published: Sat, May 20, 2017
Culture | By Stewart Greene

GST Council to meet on May 18; exemptions on Telangana agenda

GST Council to meet on May 18; exemptions on Telangana agenda

The Tripura government held a meeting on GST with all legislators on May 12 and a workshop for the media would be held in Agartala on May 20.

Finance minister Etala Rajender, along with commercial taxes principal secretary Somesh Kumar and commissioner V. Anil Kumar left for Srinagar on Wednesday.

Bhubaneswar (Odisha), May 19: The Goods and Services Tax (GST) Bill was passed in Odisha legislative assembly on Friday. Besides there will be an additional slab that includes cess on luxury items. Both the Centre and states are flooded with requests from various industry and trade bodies seeking either GST exemption for some goods and services or lower tax rates.

While the GST Council has agreed to subsume several taxes, including central excise, state VAT, service tax, central sales tax and octroi, it has kept around a third of state revenues outside the GST ambit. Union finance minister Arun Jaitley and his ministry officials as well as representatives of 29 states and Union Territories will be present at the meeting. Most of the States in the country have already passed the State GST Bills. And since a large part of the fillip a GST gives to consumption comes from the low tax rate, this GST will not do that right now - indeed, the governing principle behind fixing the tax rates was to ensure they were not too different from what is being charged right now under excise/service and VAT; that is also the reason why, though India is moving to a new tax regime, it has imported numerous flaws associated with the older one.

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