GST beneficial to States, Centre (Chief of empowered panel of finance ministers says he is hopeful of meeting April 2016 deadline)
"The Goods and Services Tax will be mutually beneficial for both the states and the Centre. I am hopeful of all stake-holders arriving at an amicable negotiated decision on the implementation of the GST regime within the 1, April, 2016 deadline", said Kerala's Finance Minister K M Mani, the newly appointed chairman of the empowered committee of state finance ministers on GST.
I look forward with hope. I am aware that most of the states are aware of the benefits they will get from GST. Of course, there is also different perspective as far as the producing and non-producing states are concerned. But all stake-holders are also aware that the GST will help the states that have, otherwise, no powers to levy taxes on services and the Centre which has no powers to levy sales taxes.