GST -Consensus on exempted goods being thrashed
The following difference are occurring in case of State List and the Centre's List for Goods & Service Tax (GST):
- As of now, the exempt list of states contains 96 items whereas the Centre's list has 243 items.
- Common exemption list for goods and services sought so that fewer items remains outside the indirect tax net.
- States also recommend traders with a turnover of less than Rs 1.5 crores be exempt from the dual control which leads to tax overburden.