Central Sales Tax

Govt to release Rs 9,000 cr to states in CST compensation

The government on Thursday said it will release Rs 9,000 crore as the first instalment of compensation for losses incurred by states due to reduction in the Central Sales Tax rate, a precondition for the rollout of GST - the indirect taxes regime. It also expressed the hope that a consensus with states on the Goods and Services Tax, which has been in the works for long, will be reached...  

Tax row: Jaya joins Mamata in slamming Centre

Chennai: Joining her West Bengal counterpart Mamata Banerjee, Tamil Nadu chief minister J Jayalalithaa on Saturday attacked the Centre for its "arbitrary" action in reducing Central Sales Tax (CST) compensation to states by linking it with VAT rate revision. Though the Centre had agreed to compensate states for the revenue loss for 2010-11 also, the eligible compensation was "arbitrarily restricted" by deducting additional revenue realised through revision of VAT rate...  

Hike CST to 4% or compensate: States to Centre

Irked over Centre's approach over CST compensation, states on Monday asked it to either compensate them adequately for their revenue loss due reduction in the Central Sales Tax (CST) or increase the levy to earlier rate of 4 per cent. The state Finance Ministers, during their meeting, also finalised a negative list of 35 services which would not be taxed under proposed Goods and Services Tax (GST) regime. "If the...  

FM to cut central sales tax by 1percent

Finance Ministry is likely to cut the central sales tax (CST) rate to 3 per cent from 4 per cent with effect from April 1. ...