Inching towards rolling out of GST, the GST Council approved a law to compensate states for any loss of revenue from the implementation of the new national sales tax but deferred approval for enabling laws to next meeting. The all-powerful GST Council will meet again on March 4 and 5to approve the legally vetted draft of the supporting legislations for Central GST (C-GST) and Integrated GST (I- GST), days before the start of the second leg of the Budget Session where the Centre is hoping to get them approved. It will also approve the State GST (S-GST) law, Finance Minister Arun Jaitley said after the day-long meeting.
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Inching towards rolling out of GST, the GST Council approved a law to compensate states for any loss of revenue from the implementation of the new national sales tax but deferred approval for enabling laws to next meeting. The all-powerful GST Council will meet again on March 4 and 5to approve the legally vetted draft of the supporting legislations for Central GST (C-GST) and Integrated GST (I- GST), days before the start of the second leg of the Budget Session where the Centre is hoping to get them approved. It will also approve the State GST (S-GST) law, Finance Minister Arun Jaitley said after the day-long meeting.
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