there are no latest developments as of today. the state finance ministers should meet the central fin min and resolve the issue of loss compensation to the states on acc of reduction of CST. till then it is only 3% against C form.
NOTIFICATION OF CST 3% TO 2%
Page no : 7
(Guest)
Reduction of rate from 4% to 3% was carried through taxation laws amendment Act. For reduction of rate from 3% to 2% also amendment to section 8 of CST is necessary. This will require intruction of Bill and passing into an Act or else an ordinance has to be passed. Apparently notification u/s 8(5) will not suffice.
Vijay K. Agrawal
(Service)
(608 Points)
Replied 22 May 2008
Dear Bansal,
3% till notification come.
rgd.
vijay
mallya
(industry)
(76 Points)
Replied 26 May 2008
it is 3% against C form.
why you have written 25 kindly explain.
mallya
(industry)
(76 Points)
Replied 28 May 2008
ACCORDING TO ASIM DASGUPTA RETROSPECTIVE EFFECT WILL NOT BE APPLIED FOR THIS SITUATION. HENCE CONTINUE WITH 3%. TILL THE GOVT NOTIFICATION COMES.
Ashish Vishnoi
(Tax Consultant)
(58 Points)
Replied 31 May 2008
Please give me the notification no and also send me a copy of notification at ashish_nhn @ bsnl.in
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