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GST Council decides revenue share formula, Bengal FM Amit Mitra records dissent

GST Council decides revenue share formula, Bengal FM Amit Mitra records dissent

New Delhi, Jan 16 (UNI) West Bengal Finance Minister Amit Mitra recorded his "dissent" at the GST Council meeting of Finance Ministers on one issue of sharing of tax collection under the new regime, Union Finance Minister Arun Jaitley said here today. "The tax base will be shared between the Centre and the states......for assesses for Rs 1.5 crore or less, 90 percent of the scrutiny and audit (amount) will be shared in the ratio 90 percent by states and 10 percent by the Centre," Mr Jaitley told reporters here. He said Mr Mitra in his dissent move suggested that on this score the tax collection be shared in the ratio "100 percent verses zero". "....in all other issues discussed even he (Mitra) agreed," Mr Jaitley said. For assesses above Rs 1.5 crore -- the sharing will be on 50:50 basis, the Union Finance Minister said. UNI DEVN RSA SNU 1825

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