Fearing that their fiscal autonomy will be impacted by the uniform tax structure, state finance ministers are likely to bargain for some flexibility on proposed Goods and Services Tax when they meet Union Finance Minister Pranab Mukherjee on July 21.
“Strict harmonisation of tax structure across the country would affect the states’ fiscal autonomy,” Andhra Pradesh chief minister K Rosaiah had said.The states would not be able to independently take any decision to mobilise additional financial resources by taking recourse to increase in the rates of taxes, he had said.
“States should be given power to impose supplementary taxes, for instance state excise, on goods, kept outside the GST, i.e., liquor and on petroleum products so that there can be some degree of flexibility to raise additional financial resources in times of need,” he had said.
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
what is flaxbility.
what charges of flaxbility service tax.