Hyderabad,
Sep 9: The day-long meeting of the GST (Goods and Services Tax) Council
being presided over by Union Finance Minister Arun Jaitley began here today
amidst tight security in the Hyderabad International Convention Centre at
Madhapur near here. The meeting being attended by 160 delegates including
Finance Ministers of states and Government officials is significant in more
than one way as it will constitute a Standing Committee besides state-level
Screening Committees for national anti-profiteering authority. This will be the
third meeting of the GST Council since the launch of the Goods and Services Tax
on July 1, and the 21st since it was set up in September last year. The GST
Council will also discuss tax rates for about 70 goods and commodities and
modalities to ensure that the GST benefits were passed on to consumers. The
Telangana Government,which is hosting the Council meeting,will reiterate its
demand to scrap or reduce GST to five per cent on ongoing projects in the
state. Chief Minister K Chandrasekhar Rao had already briefed Mr.Jaitley during
the former's recent visit to Delhi about the difficulties the state would face
if the tax slabs finalised for the ongoing projects were continued. According
to state Finance Minister Etala Rajender, though the Centre had agreed to
reduce the impact by slashing tax on ongoing projects from 18 to 12 per cent,
the state would still face a burden of Rs9,000-crore. Mr Jaitley will hear the
arguments of all the states and take a final call on the tax slab for all
Government works. The State Government will host a dinner for the visiting
dignitaries at the iconic Taj Falaknuma tonight. UNI
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