Finally! GST confirmed for July rollout
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The "It (GST) looks on track. Subject to
"As many as 26 changes sought by the states have been accepted by the Centre. This shows the federalist character of India. CGST and IGST will come up for further discussion at the next meeting of the Council in mid-March,"
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"States were seeking that dhabas and small restaurants can adopt the composite scheme. The Centre has agreed to that and now these small businesses will pay 5 per cent tax (to be shared equally between the Centre and states)," Mitra said.
Delhi Deputy Chief Minister
"Real estate should be brought under GST. Everybody knows that a lot of blackmoney finds its way into real estate and bringing real estate under GST will help in curbing black money,"
Jammu & Kashmir
Mitra further said IGST, which relates to taxation of inter-state transfer of goods, the legislation will provide for cross empowerment of state and central officers.
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"It has been agreed that there will be cross empowerment of states. Also, we did not want this as a notification, we wanted in the Act so that never in future can another council come and say states won't have power," Mitra stressed.
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