New Delhi, Jan 17 (KNN) The Goods and Services Tax (GST) Council has finally resolved the issues of administrative control over assessees and broadly agreed to roll out the GST from July 1. The earlier deadline was April 1 which seemed a little difficult post demonetization.

The entire tax base would be shared between the Centre and states in a predetermined ratio.

The entire tax base would be shared between the Centre and states in a predetermined ratio, Union Finance Minister Arun Jaitley, the chairman of the Council, said at a press conference after the meeting.

Jaitley said under the proposed tax regime, 90% of all assessees with a turnover of Rs 1.5 crore or less will be assessed for scrutiny and audit by state authorities, the remaining 10% by the Centre. Above that limit, Centre and states will assess in a 50:50 ratio. The agreement hammered out was based on a proposal by Tamil Nadu.

"Each assessee would be assessed only by one authority," Jaitley said, putting to rest fears over dual administration by both state and the Centre.

"You won't have to jump from authority to authority, that's the advantage of GST... Computer programming will be done in such a way that there is no discretion (in selection of assessees)."

Those assessees who fall under the integrated GST (IGST) — for the movement of goods and services between states — will also be administered by the Centre and states, depending on their annual turnover (Rs 1.5 crore, or more).