Council approves GST Compensation Law to save states from loss of revenue - News Summed Up

Council approves GST Compensation Law to save states from loss of revenue


The Finance Minister also hoped to get the C-GST and I-GST laws approved in the month-long session. Union territories will have a separate law which will be replica of S-GST law. "So there will be three laws C-GST law, S-GST law and UT-GST law, a finance ministry official said. Andhra Pradesh Finance Minister Yanamala Ramakrishnudu said the GST Council in the 10th Meeting discussed the draft model GST law provisions and draft Compensation law which are vetted by the law ministry. The Chairman, GST Council agreed to refer it to Law committee and to take decision in the next meeting," the statement added.


Source: dna February 18, 2017 17:37 UTC



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