Hyderabad: Finance Minister of Telangana State, Mr. Etala Rajender while talking to newsmen in Hyderabad after returning from the meeting held at Vigyan Bhavan, New Delhi told that all the states have almost agreed on GST bill. They have agreed to implement GST with effect from July 2017. It is expected that Mr. Arun Jaitley, Union Finance Minister may announce this in the next session of Parliament.
Mr. Rajender further told that a decision has been taken not to over burden the common man. It is also been decided not to levy any tax on Agricultural products. According to the revised bill, transactions below Rs. 1.5 crore will yield 90% tax for States and 10% would go to center. In case the transaction exceeds Rs. 1 crore, the tax would be distributed equally between center and the States. The differences between the Central and various State Governments have been resolved.
–Siasat News