As of now, 15 of the total states have taken the decision of supporting the much talked about GST bill. Now the turn is for major states and all the eyes are on to them. After the GST bill received approval from the monsoon session on August 8 in Parliament, now 14 states are left to ratify the bill and a GST council will be established thereafter. There are some states that are yet to take up the GST in their legislative assembly and some haven’t shown a sign of support.
Please take a look at the concerned states below:
Rajasthan: The state which has been always complementing the decision of the central government is now ready to take the GST issue on its state legislative assembly. The Rajasthan government will be starting the session focused on GST bill from September 1.
Kerala and Uttarakhand: These two states have also started to work on the special session of GST.
Karnataka: Karnataka is busy right now in other formal work and yet to take the GST session into their assembly.
West Bengal: The state is creating a gap right now and pending the GST issue for the time being.
Tamil Nadu: This state has been rebel since the government coined the GST bill. It seems like the Tamil Nadu government is not in a mood to accept the GST system.
Talking about the recent success, Goa, Mizoram, Telangana and Sikkim have signaled green flag to the GST bill and will be considering into their legislature. Although, the major matter of concern is the fixation of tax rate and ceasing the rate at 18 percent and not above it.
Naushad Forbes CII president was also stating in the same direction, “We believe a maximum rate of 18 percent as the standard rate will be revenue neutral and ensure adequate tax buoyancy. Also, the center has agreed for full 5-year compensation for revenue loss to states, so 18 per cent rate will be more than adequate,”
The concerned officials were implying on the provisions which should be acted upon when discovering any loophole or tax evasion from any company. The legal provision was held upon arresting the directors and canceling the registrations including the heavy fine.
Recommended: GST Forms: Return Filing, Rule, Registration, Challan, Refund, Invoice
From all the above-stated array of information, the conclusion is that the currently prevailing 30% of tax schemes will fall around 18-20 per cent which will ultimately bring the MRP (max retail price) into control thus maintaining a harmony in every sector.
