August 21, 2016 1:00 PM

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State FMs to meet industry associations on GST

Gearing up for rolling out the Goods and Services Tax from 1st of April next year and , the State Finance Ministers will meet representatives of trade and industry on 30th of this month, to sort out vexed issues like place of delivery of services, registration of entities and intra-company services.<br/><br/>The meeting comes in the backdrop of certain procedural issues raised by the trade and industry with regard to implementation of the GST, which will create an unified market with a single rate of tax, reports PTI.<br/><br/>The Empowered Committee of State Finance Ministers on the GST, headed by West Bengal Finance Minister Amit Mitra, will meet representatives of CII, Ficci and Assocham, among others.<br/>Revenue Secretary Hasmukh Adhia has already held meetings with 10 sectors, including telecom, IT/ITeS, banking, e-commerce and tourism, to understand their concerns.<br/><br/>The Constitutional Amendment Bill did not have the GST rate and the GST Council, which will have representation from both the Centre and states, will now work out a rate.

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