STATES FREE TO FIX GST RATES

Posted: 19 Aug 2010 08:25 PM PDT

The Finance Minister, Mr Pranab Mukherjee, has told the State Finance Ministers that they are free to fix their own State GST rates, but hopes that they would not exercise this freedom after a consensus is reached in the GST Council. He, thus, has conceded a major demand of the States that the Union Finance Minister should not have the last word on the State GST rates.RECOMMENDATORY ROLERespecting the primacy of the legislature in the area of taxation, Mr Mukherjee said that the GST Council...

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