The GST council two-day meeting has cleared most of the GST bills of a model law on Thursday itself, as the union finance minister and state representative are part of the council and having a single focus on this new tax regime. Still, there is a hook stuck on the matter of dual control of assessees in the line but the representatives of states and union head is making a gesture to sort out this one too.
Jammu and Kashmir finance minister Haseeb Drabu told to the media persons after the meeting that, “The basic model GST Bill has been concluded. Things we have kept aside, such as the issue of cross-empowerment and IGST, will come for discussion tomorrow.”
Earlier the matter was under control as the center and states were in harmony on this but still center was on its own demands like cross-empowerment model of shuffled pick up and dividing five per cent of the taxpayers between center and the states, using a computer tool but states are still at their demands of control on duty payers having an Rs 1.5 crore of annual turnover.
M S Mani, senior director, Deloitte Haskins & Sells mentioned some important point to be noticed, “It is better if a consensus is achieved on the legislative issues. The need of the hour is to have clarity on several issues, including that of rates and classification so that businesses can be prepared.”
The bills carry some hope of entitlement as if they passes through the discussion and both the houses, they have the ability to present the GST into working mode, but every implication comes with a clause because if the GST didn’t find its way on April 1st then there is an urgency to implement it, before 16 September same year to avoid any further amendment into the bill.
