Source : CNBC-TV18:Fri, May 21, 2010 at 17:18
State Finance Ministries will meet Finance Minister, Pranab Mukherjee in June to discuss compensation for losses due to Goods and Services Tax GST implementation, said Asin Dasgupta. The FM has said that he would be willing to compensate beyond Rs 50,000 cr recommended by the TFC. The areas of differences had already been discussed in a State FMs meeting.
The states had earlier proposed a dual GST system; which would mean a dual rate structure which separates central and state rates. This bought about angst from the Unionfinance ministry as the centre was against the dual rates.
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