All state finance ministers to meet in Delhi on July 26

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VISAKHAPATNAM: IN an attempt to build a consensus over the Goods and Service Tax (GST) Bill, all state finance ministers will meet in New Delhi on July 26, finance minister Yanamala Ramakrishnadu said here on Friday.

Speaking on the sidelines of the state-level Charted Accountants’ conference at GITAM University in Visakhapatnam, the finane minsiter said that ANdhra Pradesh government had sought some amendments to the GST Bill to ensure that it did not have to face a worse revenue deficit.

Ramakrishnudu said that all state finance ministers would give their opinions to the GST Council so that the suggestions could be taken into consideration before the Bill was tabled in the Rajya Sabha.

“We have found many loopholes in the GST Bill. There is a need of having uniform taxation on many things in all states as the tax regime of states are different,” he said.

Many people living along the inter-state border fill petrol in their vehicles by crossing the border owing to the concession being offered in the neighbouring state, which is resulting in trade diversion, Ramakrishnudu explained.

Source: http://www.newindianexpress.com/states/andhra_pradesh/All-state-finance-ministers-to-meet-in-Delhi-on-July-26/2016/07/23/article3542881.ece

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