GST rollout closer to reality after resolution of sales tax compensation

The contentious issue of Central Sales Tax compensation has been resolved with state governments agreeing for a lower payment of Rs 34,000 crore for phasing out the CST, a precondition for rollout of the Goods and Services Tax (GST). CST is a tax imposed on the inter-state movement of goods. "The amount of compensation for three years - 2010-11, 2011-12 and 2012-13 - was about Rs 34,000 crore. The Centre has agreed to pay this c...