GST: NO CONSENSUS ON THE DUAL CONTROL | SHARE MARKET NEWS UPDATE 24 DEC 2016.

Share Market News 

7th Council meeting today over the GST. The two drafts related to GST, even if approved. But now the government is not April 1, 2017, apply to the GST. According to sources, all sides now new date of July 1 implementation date of GST is assumed. After today's meeting, Finance Minister Arun Jaitley to brief the media.

GST Council has approved a bill related to compensation. After which the Council will now discuss IGST. However, today's meeting has not been decided on a dual control. The next meeting of the GST Council and the next meeting will take 3 to 4 January to discuss the dual control. GST is unlikely to be agreed soon.

As per sources, the next meeting scheduled in the bill may be wrangling over IGST. Not only after Notbandi have states sought to increase compensation. 55 thousand core instead of the Rs 1 lakh core is being sought. The state says it will be a drastic reduction in revenue after Notbandi said. The rate of compensation was based on revenue. Collection rate at 14 per cent increase was not compensated.

Arun Jaitley said today's meeting is the major decisions in the way of GST. Council has approved the draft CGST and SGST and CGST be tabled in Parliament.