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2014-12-12

GST Bill fails to address the state’s tax issues

The state government has also urged to keep the entry tax and petro tax out of the ambit of the GST.

In the Empowered Committee of State Finance Ministers meeting, the state has rejected the draft Goods and Services Tax (GST) Bill, an initiative taken by the centre, says a PTI report.

The state has expressed concern that this bill is not addressing its concerns on entry tax and taxation of petroleum products. Besides the bill does not have provisions for state compensations against loss of revenue.

"There is no consensus between the Centre and states on these three things (compensation issue, petrol tax and entry tax). The Empowered Committee is not supporting the Bill without these three things," Empowered Committee Chairman Abdul Rahim Rather said after a meeting of the state Finance Ministers.

“The states want that the Centre to compensate them for any loss of revenue on implementation of the GST for five years and a clause regarding the compensation be included in the Constitution Amendment Bill,” Rather said.

The state government has also urged to keep the entry tax and petro tax out of the ambit of the GST.

"Government hasn't agreed to our recommendations made last time, except one recommendation. We had said that the share of Union government in GST should go to the divisible pool and should be devolved among a state, that has been agreed by Centre," Rather said.
 

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