NEW DELHI, Aug 21 - Gearing up for the roll out of the Goods and Services Tax (GST) from April 1, the State Finance Ministers will meet representatives of the trade and industry on August 30, to sort out vexed issues like place of delivery of services, registration of entities and intra-company services.
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 a unified market with a single rate of tax. 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.
During the meeting, industry is likely to demand that location of supplier of goods and services and location of recipient of goods and services need to be defined in the subsequent legislations so that there is no ambiguity.
The government targets to roll out GST from April 1, 2017, and to this effect it has to bring two legislations � CGST and IGST � detailing the new tax code in the Winter Session of Parliament in November. Similar tax law SGST will also have to be passed by the States.
The GST Constitutional Amendment Bill was passed by the Parliament earlier this month and so far three states � Assam, Bihar and Jharkhand � have ratified the Bill. A constitutional amendment requires ratification by at least 50 per cent of the States. � PTI
