The Empowered Committee of State Finance Ministers on GST will meet here on January 9 and 10 to discuss a host of taxation and related issues.
The first meeting of the committee in 2012 will be presided over by the Bihar Deputy Chief Minister, who is Chairman of the panel, which is spearheading the implementation of Goods and Services Tax (GST).
The meet will discuss common interests of the States, especially proposed imposition of service tax on the basis of negative lists of services, an official release said today.
Compensation of losses being suffered by States in the wake of reduction in sales tax rates by the Government and tendency of VAT revenue in 2011-12 will also be reviewed.
Finance, Taxation, Commercial Taxes Ministers of Andhra Pradesh, Chhattisgarh, Haryana Jammu and Kashmir, Orissa, Tamil Nadu, Gujarat, Delhi, West Bengal and Madhya Pradesh, among other States, will attend the meeting.
On January 9, discussions will be held in the context of recommendations made by a committee comprising Principal Secretaries, Secretaries and Commercial Taxes Commissioners regarding concept paper of negative list of services, the release said.
Discussions will also be held on the status of the CST (Central Sales Tax) compensation as well as VAT and non-VAT revenues and other related matters.
On January 10, presentations will be made by States on best I-T practices. Besides, composition and compounding schemes, audit procedure followed by various States, status of e-return and other issues will be discussed.