https://www.taxtmi.com/article/detailed?id=1427 The proposed GST's common base and uniform rates would subsume major central and state levies, restrict states from making unilateral changes to rates or base, and affect instruments such as purchase tax, octroi and input tax credit. To address revenue displacement and preserve state interests, the Task Force recommends transitional compensation and a permanent Council of Finance Ministers to approve initial design and govern subsequent changes by specified majorities, preventing unilateral amendments while enabling a dual GST and wider state tax base through inclusion of services and manufacture. en-us Fri, 16 Sep 2011 16:46:21 +0530 Wed, 04 Feb 2015 19:03:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1427 The proposed GST's common base and uniform rates would subsume major central and state levies, restrict states from making unilateral changes to rates or base, and affect instruments such as purchase tax, octroi and input tax credit. To address revenue displacement and preserve state interests, the Task Force recommends transitional compensation and a permanent Council of Finance Ministers to approve initial design and govern subsequent changes by specified majorities, preventing unilateral amendments while enabling a dual GST and wider state tax base through inclusion of services and manufacture. Articles Goods and Services Tax - GST Fri, 16 Sep 2011 16:46:21 +0530 https://www.taxtmi.com/article/detailed?id=1427