October 29, 2010 9:23 PM

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Empowered Committee of State Finance Ministers reach consensus on GST

The Empowered Committee of State Finance Ministers, which met under the Chairmanship of the West Bengal Finance Minister Asim Dasgupta at Panaji in Goa has arrived at a consensus on the Goods and Services, GST. The Committee discussed threadbare the constitutional Amendment Draft for the GST in its meeting at Panaji today.Later talking to media men, Dasgupta said apart from fear of loss of autonomy, issues including tax rates and items to be exempted from GST besides revenue also came up for discussion. He said that the rate of growth of both VAT and Non Vat revision on all the states has gone up by 30 percent in the current fiscal year.

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