Centre and states break GST deadlock; agree on 80% issues

The Centre and states are in agreement over 80% issues regarding the Goods and Services Tax (GST). That is the statement made by GST panel head, Sushil Modi.

Modi also added that there is no stalemate between states and the Centre and the Rs 9,000 crore allocation in the Budget for Central Sales Tax (CST) compensation has created a conducive atmosphere.

Sushil Kumar said, "Earlier there was a stalemate regarding GST, because the Centre was not ready to give any compensation to the states. So, I thank Chidambaram because the stalemate is no more there and things are now moving in a positive direction. Chidambaram has provided Rs 5,300 crore in this Budget for the compensation for the year 2010-11."

"On most of the issues, there is a convergence. Howvere, there are still some issues that will take sometime, but we can move ahead," added Modi optimistically.