The Times of India, Jan 14, 2017
JAIPUR: The state government will incorporate the provisions of Goods and Service Tax (GST) in the budget even if its implementation is delayed by the Centre beyond April.
Instead of waiting for GST’s official roll out and then preparing for it, Rajasthan government will be ready for its execution.
The budget will have separate heads under GST and well-laid guidelines of tax distribution. Sources claim the budget will be presented like every year in the same format but with additional features.
“There will be a provision that will be in sync with the GST. It will be not be problematic for us to make move from current format of accounting to GST format, if it is announced in mid-year,” said an official.
In the present structure, government has separate revenue heads (account) for the central sales tax, VAT, entertainment tax along with slew of other taxes. All these taxes will be merged in a uniform four slab taxation.
Some of the portion of tax will go to Centre, a part of it to state and a portion of it will go completely in the state’s coffers.