Central Board of Excise and Customs (CBEC) has been educating people about the new taxation scheme happen to roll next year with the help of various campaigns. The consensus issue still hangs between the center and all the states under the dual control of dealers up to an annual revenue threshold of Rs. 1.5 crore.
CBEC Chairman Najib Shah said that, “The Centre will share the draft model GST law with the states today as it prepares for the roll-out of Goods and Services Tax (GST) from April 1 next year, and the Centre is also working on multiple options apart from ‘horizontal’ and ‘vertical’ division for deciding on jurisdiction over tax assessees.”
Still, every bit of logical thinking has been working upon and has also come up with a horizontal and vertical division method to cope up the situation. As ‘Horizontal division’ would mean taxpayers would be divided both for administrative and audit purposes based on a cutoff turnover while the ‘vertical division’, taxpayers could be divided in a ratio which would balance the interest of the Centre and the state.
