GST implementation should be decentralized: Jalan 31/10/2017

GST implementation should be decentralized: Jalan
31/10/2017 12:08

Click here for Hourly Trend Update

             Equity Cash/Futures/Options Segment 
 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040
Former RBI Governor Bimal Jalan has said that the implementation of GST should be decentralised as priorities of the rich and the poor states are different.
Commenting on the issue, Former RBI Governor Bimal Jalan told the media, “Proper implementation of the new indirect tax regime would take some more time.”
"Priorities of rich states like Maharashtra and poor states Bihar are going to be different... There are different parties in states and the Centre, so we have to decentralise the implementation of GST," he added.
“States' revenues will differ, if one is producing high tax products and another producing low tax products. Revenue Secretary Hasmukh Adhia had also said recently that GST which amalgamates more than a dozen central and state levies like excise duty, service tax and VAT, will take about a year to stabilize,” he further said.
As per reports, nearly four months since its introduction, the new indirect tax regime has shown teething troubles and compliance issues, which the GST Council is addressing through several rounds of changes.
Posted by