https://www.taxtmi.com/news?id=339 Central Sales Tax phaseout has been delayed because the Centre and state governments have not agreed on the compensation mechanism for revenue losses from the planned rate reduction. Negotiations focus on whether compensation should be full, the technical formula for disbursal, and the possibility of retrospective application. The broader compensation framework includes transfer of service tax revenues, removal of certain excise duties, VAT on imports, abolition of Form D, budgetary support and an increased VAT floor rate, some elements of which the Centre has already implemented while others remain pending. en-us Tue, 01 Apr 2008 10:11:00 +0530 Tue, 24 Jun 2008 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=339 Central Sales Tax phaseout has been delayed because the Centre and state governments have not agreed on the compensation mechanism for revenue losses from the planned rate reduction. Negotiations focus on whether compensation should be full, the technical formula for disbursal, and the possibility of retrospective application. The broader compensation framework includes transfer of service tax revenues, removal of certain excise duties, VAT on imports, abolition of Form D, budgetary support and an increased VAT floor rate, some elements of which the Centre has already implemented while others remain pending. News - Tue, 01 Apr 2008 10:11:00 +0530 https://www.taxtmi.com/news?id=339