State FMs to meet over GST on October 29-30

State finance ministers would meet in Goa for two days — October 29 and 30 — to firm up their views on the Centre’s revised draft for implementation of the Goods and Services Tax (GST), which has been facing uncertainty for quite some time.

“(We discussed) how we can converge, what are the points on the basis of which it can be achieved. I would have to report to the empowered committee of state finance ministers, which is scheduled to meet on October 29 and 30 in Goa,” the chairman of state finance ministers’ panel, Asim Dasgupta, said after meeting Finance Minister Pranab Mukherjee here today.

Dasgupta, who is the finance minister of West Bengal, further said he had conveyed to Mukherjee states’ views on GST-related constitution amendment and the revised draft.

The indirect tax regime, GST, is expected to replace excise duty, service tax on the Centre’s end and VAT on states’ front, besides local levies, cesses and surcharges.

The Centre has so far floated two drafts on Constitution Amendment Bill. The first one was rejected by states as it proposed a GST Council, which they alleged gave veto power to the Union finance minister on taxation issue of states.