Goods and Services Tax

GST Council concluded its meeting yesterday without any consensus on the dual control under GST. There is still a stumble block of the administrative powers centre and state governments are going to hold. After resolving the compensation issues, states are not ready to withdraw their control upon the taxpayers. Earlier it was decided that states will have sole control upon the taxpayers having aggregate turnover up to Rs. 1.5 crores and above that both centre and state will have dual control in case of goods. But for services it was decided that all the taxpayers shall remain under the control of central government.  Next meeting on this issue has been planned on 11 th and 12 th December. Even if breakthrough is obtained in this meeting, winter session will get over in next 3 days i.e. 15.12.2016. In such a scenario it does not look like that government will be able to get the bill passed so quickly. Even if it brings these bills as money bill, 14 days time have to be...