Madhya Pradesh’s stance positive towards reforms in Central tax regime

Bhopal: Finance Minister Shri Jayant Malaiya said in New Delhi today that Madhya Pradesh’s stance is positive towards reforms in Central tax regime. Madhya Pradesh fully endorses decision to implement Goods & Services Tax (GST) in place of Central Service Tax (CST). He said that present Central Government is adopting positive approach towards implementing GST in consultation with states. On the directives of Union Finance Minister Shri Arun Jaitley, draft of earlier proposed GST format has been amended. A special committee headed by Jammu-Kashmir’s Finance Minister will discuss the issue on August 20. Besides, continuous meetings in this regard will also determine procedures for effective implementation of GST.
About objection raised earlier by Madhya Pradesh in this regard, Finance Minister Shri Malaiya informed that states used to get 32 percent amount. Despite repeated assurances, Madhya Pradesh is yet to receive Rs. 465 crore to compensate for loss of revenue to the state due to implementation of the system by the UPA government. The Finance Minister also clarified that not only Madhya Pradesh, but Gujarat and other states are also of the same view. Keeping states’ interests in view, the present Central Government is rationalizing GST, which is praiseworthy.