GST rollout deferred to July 1, Council reaches consensus on dual control

GST Council defers GST roll out to a “realistic timeline” of July 1, 2017; Reaches consensus on dual control, assessees with turnover less than Rs. 1.5 Cr will be assessed by Centre & States in the ratio 10:90 respectively, while those above this limit shall be assessed equally, i.e. in 50:50 ratio through computer programming; Power to levy and collect IGST will remain with Centre, but by special provision in the law, States will also be cross empowered in the same r...