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Dual control over the assesses from both the states and center was earlier a stick in the neck and is still in the same position. Kerala Finance Minister Thomas Issac said, a vertical division of assessees for the collection of taxes and for the purpose of the audit would create problems for small taxpayers, Kerala, Bengal, Tamil Nadu, Bihar, Delhi, Odisha… the majority of states want a combination of vertical and horizontal (dual control structure). Below Rs 1.5 (crore turnover), states should tax, above Rs 1.5 crore, it can be vertical division.

According to Japanese financial services major Nomura, Goods and Services Tax (GST) benefits are likely to increase over time and in the long run the indirect tax regime with strengthen tax revenues, boost economic growth. The benefits are expected to be substantial, predicts Nomura.

Goods and Service Tax rate got its final rates yesterday with the multi-tiered structure of 5,12,18,28 percent and with this announcement, Goa government has come up with a special meeting to discuss the implementation of GST in the state.

A much-awaited meeting regarding GST will be held today for the proposal of several issues concerning the significant tax rate fixation and assessee dual control matter. Minister of State for Finance Arjun Ram Meghwal stated into his statement that

Oil Minister Dharmendra Pradhan said that “GST Council will decide on this (taxation of petroleum products). On behalf of the industry, I would request the states to allow petroleum products to be brought under GST taxation.”

The GST council has been callings numerous meeting sessions from August starting from the day when parliament and both the house of states cleared the GST bill with the consent. In this same line-up, the GST council held a three-day session in Delhi for finalizing the GST rate.

The Indian government has been looking to implement a diverse range of GST rates and it has been cleared from the finance minister itself when he spoke about the polluting products and their chances to attract higher GST rates.