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Posted on Jan 30, 09:21AM | UNI
Bhubaneswar, Jan 29 : The Empowered Committee of State Finance Ministers today broadly agreed for the implementation of the Goods and Services Tax (GST) in the country
The Empowered Committee which, met on the second day today to discuss on GST Design, arrived on a broad consensus on roll out of the GST resolving most of the contentious issues, Committee Chairman Sushil Modi told newsperson after the meeting
Describing the outcome of the meeting as historic for breaking the deadlock on implementation of the GST in the country, Mr Modi said, 'We have moved forward and there was a broad consensus on GST Design'
The Committee, he said, had deliberated on the GST Design and the recommendations of the Rashmi Verama Committee on GST Design and decided to form three sub-committees to recommend on issues like Integrated GST, Revenue Neutralization, Place of Supply Rules, abolition of Dual Control, and Threshold Turnover
The three Sub-Committees, Mr Modi said will submit its report within three months
He said there was a general consensus in the meeting that the GST Council should redress the disputes among the states and not by the Dispute Settlement Authority and recommended that the Section 2 of the 279(B) of the GST Bill which provides formation of the Authority be scrapped