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Goods and services tax not at cost of revenue loss: Amit Mitra

PTI November 30, 2014 14:45 IST

Kolkata: The major concern states have regarding the goods and services tax (GST) rollout is "revenue loss" and it is required to be addressed, the West Bengal government said on Saturday.

"We are not against GST but not at the cost of revenue loss. We should have constitutional right that revenue will not decline," state finance minister Amit Mitra told the 82nd AGM of Oriental Chamber of Commerce.

Mitra said the major challenge for GST rollout was that it should come without losing revenue for states as each state had its unique problems which required to be addressed.

The statement assumes significance as the Centre will bring the much-awaited GST Bill in the current session of Parliament.

The government proposes to implement GST from April 1, 2016, and the new Finance Commission may be set up ahead of its schedule to look into the issues related with the new indirect tax regime.