New Delhi: At the end of the fourth round of meeting of the GST Council, the Centre and states failed to arrive at a mutually acceptable dual control structure.
Finance minister Arun Jaitley said two points of view emerged at the meeting on how to divide the assessee base between the Centre and the states. The earlier proposal, and one acceptable to states, is a horizontal division of the base of assessees, between the Centre and the states, using a threshold of Rs 1.5 crore turnover. But the Centre proposes to divide the base of assessees vertically without a threshold, though many states like Kerala are opposed to that.
But Jammu & Kashmir’s Finance Minister Haseeb Drabu told BloombergQuint that the state would back a vertical split of administrative powers under the GST regime.
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