Rediff.com » News
GST deadline has been deferred to July 1: FM Jaitley
January 16, 2017
Finance Minister Arun Jaitley is addressing the media on GST.
Here are the live updates:
-- The entire taxation base will be shared between the assessment and machinery of the Centre and the states.
-- Those above turnover 1.5 crores would be assessed in the ratio of 50:50 between Centre and state.
--All assesses with GST turnover of Rs. 1.5 crore or less, 90 per cent of them will be assessed by States & 10 per cent by administrative machinery of Centre.
--States will also be cross empowered on the ratio mentioned earlier.
-- GST deadline has been deferred to July 1
© 2024 Rediff.com