By IANS,
New Delhi : For the second consecutive day Friday, talks between Finance Minister Pranab Mukherjee and state finance ministers to reach a consensus on the Goods and Service Tax (GST), to be applicable nationwide from April 1, remained inconclusive.
The finance minister has asked the empowered committee of state finance ministers, headed by West Bengal Finance Minister Asim Sengupta, to work out a GST package whereby states have to share 50 percent of the losses due to Central Sales Tax for the current financial year.
“We will have to discuss this proposal with the state finance ministers. He (Pranab Mukherjee) has asked us to come back with the new GST package. It would be about Rs.14,000 crore,” Sengupta told reporters after the meeting.
The government had set a target for uniform rollout of GST for April 1 but states are not willing to give up their powers that let them levy taxes unilaterally.
The government was expected to make an announcement Friday concerning deferring of the GST.
According to a finance ministry official, the empowered committee members will meet the finance minister again after working out the GST package.