Centre and states have reached a consensus on Goods and Service Tax, or GST, and reservations regarding producing and consuming states have been sorted, says KM Mani, chairman, state finance ministers panel on GST.
He says interest of both producing and consuming states will be protected. He is hopeful that GST will be brought into force from April 1, 2016. Also, he is looking at a uniform GST rate throughout India. According to him, a decision on revenue neutral rate for GST is yet to be taken.
Mani says finance minister Arun Jaitley has said that the Constitution Amendment Bill will be pushed through in this session itself. There is no difficulty with regard to 50 percent of state legislatures passing Constitutional Amendment Bill, he says.
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