GST Council meeting rescheduled for December 2-3

The GST Council meeting, which would discuss the crucial issue of dual control or who will exercise control over GST assessees -- the Centre or the states -- has been rescheduled for December 2-3, an official said.

The meet was earlier scheduled to be held on November 25.

"The states desired some more time to internally deliberate on revised draft of the laws within their respective state(s). Therefore, the GST Council meeting scheduled for November 25, 2016, has been rescheduled on December 2-3, 2016," the Finance Ministry said in a statement.

Meanwhile, another meeting of the Law Sub-Committee comprising of the officers of the states and the Centre has now been scheduled for November 25 in the national capital to finalise the draft GST related laws before these are placed before the GST Council.

"After finalisation of the draft GST related laws in the meeting of officers on November 25, the same will be placed before the GST Council," the Finance Ministry said in a tweet.

Four draft bills -- Central GST, State GST, Integrated GST and state compensation matter for revenue losses -- will have to be passed by Parliament and state assemblies after the council approves them.

The consensus on the issue of dual empowerment remains crucial as the government intends to place the GST bills in the ongoing winter session of Parliament so as to implement the new indirect tax regime from April 1, 2017.

Sources in the Finance Ministry said that the government was looking at bringing these as financial bills before Parliament, but if any issue crops up, then it may even place them as money bills. #casansaar (PTI--IANS)