GST Council meeting: States should get 60% share of GST, says Kerala

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GST Council meeting: States should get 60% share of GST, says Kerala - Business Standard

Quick Summary:

Kerala Finance Minister K N Balagopal has called for a review of the central-state tax sharing ratio of the Goods and Services Tax (GST), and said that 60 per cent should go to the states, whereas it is shared equally now.

Currently, the ratio is 50:50 and it should be changed to 40:60 in favour of the states, the minister said in the GST Council meeting held in New Delhi on Saturday, according to a statement issued by his office here on Sunday.

Speaking about the significant issues addressed during the meeting, the state FM said a favourable decision taken with regard to the Integrated Goods and Services Tax (IGST) is expected to be greatly beneficial for Kerala.