https://www.taxtmi.com/news?id=17267 Deadlock concerns the distribution of GST administration powers between the Union and states, with the GST Council confronting whether states should have sole jurisdiction over taxpayers below a specified turnover threshold and whether a horizontal split of administrative competence is appropriate. The Centre opposes a broad horizontal allocation and resists dual auditing authorities on grounds that overlapping agencies could act at cross-purposes. The Council will also address taxation of trade in territorial waters and the design of a compensation corpus to offset state revenue losses, while finalising IGST clauses and securing enactment of CGST and SGST laws remain prerequisites for rollout. en-us Mon, 16 Jan 2017 10:12:42 +0530 Mon, 16 Jan 2017 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17267 Deadlock concerns the distribution of GST administration powers between the Union and states, with the GST Council confronting whether states should have sole jurisdiction over taxpayers below a specified turnover threshold and whether a horizontal split of administrative competence is appropriate. The Centre opposes a broad horizontal allocation and resists dual auditing authorities on grounds that overlapping agencies could act at cross-purposes. The Council will also address taxation of trade in territorial waters and the design of a compensation corpus to offset state revenue losses, while finalising IGST clauses and securing enactment of CGST and SGST laws remain prerequisites for rollout. News - Mon, 16 Jan 2017 10:12:42 +0530 https://www.taxtmi.com/news?id=17267