Centre seeks consensus on 1 percent extra GST levy

New Delhi, Nov 27 (IANS) The central government is seeking a consensus on the vexed issue of levy of one percent additional tax for the proposed goods and services tax (GST), Minister of State for Finance Jayant Sinha said on Friday.

“There are many opinions on the one percent tax on GST…states have another perspective on this,” Sinha told reporters on the sidelines of an event here by the Centre for Digital Financial Inclusion.

“We have to find a consensus on this. The finance minister has said we are in continuous consultations, particularly with opposition parties and are willing to consider any reasonable suggections,” Sinha said, adding that the situation arrived at this point was the result of continuous discussions with states and other stakeholders.

The central government has set the target for GST implementation from April next year, but the bill is currently stuck in parliament, especially over the cabinet’s nod to some changes recommended by a parliamentary panel, notably an extra one percent levy to compensate the states for potential tax losses.

The opposition parties have opposed the extra one percent GST levy as they feel this would not only push up prices, but also have a cascading effect.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here