Published On : Thu, Jul 27th, 2017

Meeting to be held in Mumbai for deciding Revenue distribution under GST

In order to finalise a format for distribution of Revenue collected under newly imposed GST to avoid further uncertainty, a meeting attended by State GST, Central GST and Income tax Commissioner is to be held in Mumbai next week.

Important decisions like how to divide the collected revenue will be taken in the meeting. Three departments, Central GST, State GST and Inter State GST, fall under GST. Under, the newly regulated tax system, there are several products for which the tax has to be paid to Centre as well as the state. The traders have been allowed to pay the taxes in a combined manner. The traders, however, mandatorily, have to get registered in at least one format of GST i.e. State or Centre and can also pay the taxes to either body. The meeting will thus focus on distribution of the collected taxes.