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of <h1>India Cuts Central Sales Tax to 2% on Inter-State Goods Sales Starting June 2008; GST Transition in Progress.</h1> The Government of India has announced a reduction in the Central Sales Tax (CST) from 3% to 2% on inter-State sales of goods, effective from June 1, 2008. This change follows discussions between the Empowered Committee of State Finance Ministers and the Union Finance Minister, aligning with the Union Finance Minister's budget speech in February 2008. The reduction is part of a plan to phase out CST by March 31, 2010, in preparation for the Goods and Services Tax (GST). The government and state finance ministers have agreed on a compensation mechanism for any revenue loss to the states due to this reduction.
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