ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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State Finances : Unhealthy Precedent

Unhealthy Precedent Anumber of important decisions are reported to have been taken at the conference of chief ministers on domestic tax reforms on June 22. The conference was convened principally to review compliance by the states in implementing a uniform floor rate for sales tax and value added tax (VAT). Prominent among the states which have not yet conformed to the uniform rate of sales tax is Bihar. These states are now expected to submit a report on compliance by July 10. It was decided at the conference to withhold central Plan assistance to the extent of 25 per cent with immediate effect from states and union territories which do not adopt the uniform floor rate.

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