The meeting of Goods and Services Tax, GST Council is underway in New Delhi to address the impasse over administrative control on assessees in the new tax regime. <br/><br/>The meeting is being chaired by Finance Minister Arun Jaitley. The Minister had earlier said agenda for today's meeting is completion of approval of CGST and IGST draft and discussion and resolution of cross empowerment law. <br/><br/>He hoped for a quick resolution of the issue of tax jurisdiction with states. Mr. Jaitley also said that the Centre and states are working out the mode of tax administration under which a tax payer would be assessed only once and that assessment has to be accepted by both the taxing authorities. <br/><br/>In its meeting last week, the Council could not come to a consensus on the point of jurisdiction over assessees. The Council had discussed tax jurisdiction, the model GST law, Integrated GST law and compensation law. <br/><br/>The finalisation of these laws will pave the way for introduction of GST legislations in the ongoing Winter Session of Parliament, which comcludes on 16th of this month. <br/><br/>The government is keen on passage of pending GST bills and its rollout from first of April next year.
News On AIR | December 11, 2016 4:50 PM
GST council meeting underway over new tax regime