Consensus on GST Rate Rationalisation Unveiled
Chief Minister M K Stalin announced a consensus draft to ensure fair GST rate rationalisation and safeguard state revenue. The draft, which incorporates views from various states, will be presented to the GST Council. Opposition finance ministers stress the importance of protecting state revenues.
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In a bid to safeguard state revenue interests, a consensus draft on GST rate rationalisation has been formulated, Chief Minister M K Stalin reported on Friday. Designed to reflect equitable outcomes, the draft will soon be tabled before the GST Council.
Stalin emphasized that without protecting state revenues, the GST reforms will not be beneficial to the populace. His comments came following a meeting of Finance Ministers from eight opposition-led states in Delhi, who discussed the proposed GST rate changes by the Centre.
During the discussions, Tamil Nadu highlighted the necessity of maintaining state revenues that underpin welfare programs and infrastructure. The discussions culminated in a draft aimed at securing state support for revenue protection while ensuring the benefits of revised rates reach the common citizen.
(With inputs from agencies.)
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