Despite the Modi government’s readiness to address some of the concerns of states over the proposed goods and services tax (GST), consensus on the contentious issues continues to be elusive.
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The empowered committee of state finance ministers that met here on Wednesday agreed to adopt a turnover threshold of Rs 10 lakh for traders to register for GST but has demanded audit and enforcement powers over small traders who would be exempt from dual controls.
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This means in the case of traders with a turnover between R10 lakh and R1.5 crore, the states would not only have the powers to collect the taxes but also to enforce compliance.
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Related Tags GST, Indirect Taxes