Seeking speedy implementation of GST, State Finance Ministers today pitched for a common exemption list for goods and services so that fewer number of items remain outside the indirect tax net.
“As of now, the exempt list of states contains 96 items whereas the Centre's list has 243 items. The empowered panel has arrived at a consensus that 12 of the 96 items contained in the States list on which the Centre levies taxes be exempted from central taxes,” Chairman of the Empowered Committee of State Finance Ministers Sushil Kumar Modi told reporters here.States also asked the Centre to prune its exemption list in a phased manner to match it with that of States.