Latest News – Claiming that demonetisation has affected country’s growth, a major central revenue body has asked Finance Minister Arun Jaitley not to implement Goods and Services Tax (GST) in a hurry and threatened to take legal recourse in case their concerns are not addressed.
It termed as “illegal” certain decisions taken by Jaitley-headed GST Council and demanded a correction. It also sought that the officer’s body be consulted before any final decision is taken.
The council in its meeting on January 16, had agreed to give states the powers to levy tax on economic activity within 12 nautical miles of territorial waters.
Also, it was decided that the states will have powers to assess and administer 90 per cent of the (Read More)