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 Industry & Economy - Taxation


CCTs to meet on March 18

Our Bureau

New Delhi , March 11

State Commissioners of Commercial Taxes (CCTs) are to meet here on March 18 to help firm up a package of proposals for Central compensation of the proposed phase out of central sales tax (CST) from April 1.

After this meeting, the VAT Panel Chairman, Dr Asim Dasgupta, intends to meet the Finance Minister, Mr P. Chidambaram, to finalise the compensation package for the proposed CST phase out.

States have in-principle agreed to cut CST from 4 to 2 per cent from April 1 this year. The Centre is keen that the States be compensated through monetary and non-monetary measures which, taken together, would ensure that the States' revenues remain buoyant.

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