GST Council meet

All assesses with GST turnover of Rs 1.5 crore or less, 90 percent of them will be assessed by States and 10 percent by administrative machinery of Centre, says Jaitley

GST turnover of above Rs 1.5 crore will be assessed in the ratio of 50:50 by States and Centre, says Jaitley

Power to levy and collect IGST tax is with Centre but by special provision in the law states to be cross empowered in same manner as ratio mentioned, says Jaitley

All Ministers present agreed to proposal except WB Minister who disagreed to the limited division of assessment for turnover below Rs 1.5 crore, says Jaitley

Goods & Services Tax rollout deferred to July 1, says Arun Jaitley

There was a broad view that July 1 appears to be a more realistic date to rollout of GST, says Jaitley

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Live from Delhi

#WATCH Live: FM Arun Jaitley addresses the media in Delhi after GST Council meet

Posted by Asian News International (ANI) on Monday, January 16, 2017

video courtesy (ANI)