India GST negotiation battles
- Nov 20, 2016 | Richard Asquith
In the run-up to the 2017 implementation of a Goods and Services Tax in India, the Centre government and States continue to fail to conclude key administrative terms.
Currently, negotiations has stalled around whether the Centre or State administers the assessees, the taxable person responsible for paying the GST. The States are looking to remain responsible for assessees with an annual turnover below Rs 1.5 core.
Further talks will take place this week. It is hoped that GST can be implemented in April 2017. However, there is an increasing possibility of a slip in the timetable to September 2017. The new consumption tax will replace the existing VAT, CENVAT, Service Tax, Professional Tax and many other overlapping taxes and levies.