The FICCI is set for a conclave organization with the minister panel of 4 from south Indian states and would discuss the tax sharing formulae particularly related to the goods and services tax scheme along with some other issues of the GST in a conference.
The conclave called ‘South India GST Conclave’ will be an interaction with south Indian ministers of four south Indian states has been announced on the press release by the FICCI.
A single-day event will be hosting the four ministers from the 4 states including the Karnataka industry minister Murugesh R. Nirani, Kerala finance minister K. N. Balagopal, Tamil Nadu finance minister P. Thiagarajan, and Telangana finance minister T. Harish Rao.
The conclave event is set to happen within the time 6 p.m. to 8 p.m and would bring multiple issues of GST on the table which has been encountered by the south Indian states. This would summarize the earlier rules formed when the GST was applicable and since then the GST sharing within states and center was normalized but had some challenges.
In the 15th Finance Commission, the provisions were favourable for the states of Maharashtra, Rajasthan, Arunachal Pradesh, and Bihar in which the state & central tax sharing percentage has been left untouched but the south Indian states were still in confusion.
The finance minister is a major role player in the GST council meeting and all the important amendments in the GST scheme has been done with the consumption-based assumptions and thus south Indian states have been affected and the conclave is set to solve this issue.
