New Delhi: Finance Minister Arun Jaitley will today meet his counterparts to discuss challenges related to Goods and Services Tax (GST).
In this meeting Jaitley will discuss some of the challenges that the states see at this point of time.
“On GST we are working on variety of discussions with the states. The legislative aspects of the GST are complicated; they have to be approved by the states. CST compensation is one of the items, which is under discussion,” Minister of State for Finance Jayant Sinha said.
The Centre is working towards rolling out the GST from April 1, 2016, and is in discussion with states to insulate their revenues from the impact of the GST.
The GST will subsume indirect taxes like excise duty and service tax at the central level and VAT and local levies on the states front.
