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Meeting of State Finance Ministers from Jan 9

The empowered committee’s meeting will discuss common interests of the States, especially proposed imposition of service tax on the basis of negative lists of services. Compensation of losses being suffered by States in the wake of reduction in the rates of sales tax by the Union Government and tendency of VAT revenue during the year 2011-12 will also be reviewed.
 



 

Andhra Pradesh Finance Minister Anam Ramnarayan Reddy, Chhattisgarh Taxation Minister Amar Agrawal, Haryana Taxation Minister Kiran Chaudhary, Jammu and Kashmir Finance Minister AR Rather, Odisha Finance Minister Prafullachandra Ghadai, Tamil Nadu Commercial Taxes Minister Thiru Agri SS Krishnamurthy, Gujarat Finance Minister Saurabh Bhai Patel, Delhi Finance Minister Ashok Walia, Karnataka Statistics Minister VS Acharya, West Bengal Finance Minister Amit Mishra and Madhya Pradesh Finance and Commercial Taxes Minister Raghvji will attend the meeting.

On January 9, discussions will be held in the context of the recommendations made by the committee comprising Principal Secretaries, Secretaries and Commercial Taxes Commissioners regarding concept-paper of negative list of services. Discussions will also be held on status pf the CST compensation of profession tax as well as VAT and Non-VAT revenues and other related matters.

On January 10, presentations will be made by various States on best IT practices. Besides, composition and compounding schemes, audit procedure followed by various States, status of e-return and other issues will also be discussed.

Source: Daily Pioneer, India,  dated 07/01/2012

 

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