The All States Finance Ministers have met together in a meeting on Friday regarding the GST Bill. The meeting was held in the context of cull a new chairman of the GST Panel and debate on the Bill. State FMs is willing to pass the Goods and Services Tax system. The empowered committee meeting is directed by the Delhi deputy chief minister, Mr. Manish Sisodia, said the states were “divided” over the threshold. The FMs discussed that a new sub-committee will make to gather the information from states to decide on the same. According to the Centre government, the threshold for levying central GST (CGST) and State GST (SGST) be kept at an annual turnover of Rs 25 lakh, some states want GST to be at Rs 10 lakh.
Sisodia Said in the meeting, “Some states are adamant that it should be Rs 10 lakh. Some others said it should be increased because ‘inspector raj’ will increase if small traders come under GST… So, we thought that we should collect data from all states.”
To elect new Chairman of the GST panel, the State Finance Ministers will meet in December, said, Manish Sisoida. Though, the Kerala Finance Minister KM Mani has already resigned from his post of Chairman of the empowered committee of GST panel due to reason of a High Court ruling has made an action against him in the bar bribery case. Therefore, the selection of a new chairman has been necessary.
Mr. Sisoida also said to comment on the selection of a new chairman, “The Empowered Committee will at its next meeting in the presence of Finance Minister Arun Jaitley decide on the chairman… The meeting should happen in December.”
