Finance minister Arun Jaitley today said the GST roll-out has been deferred to 1st July this year as it seems to be a more realistic date. He also said, GST Council has arrived at a decision on dual control issue. Briefing media in New Delhi this evening, Finance Minister Arun Jaitley said the entire taxation base will be shared between the assesment machinery of states and center.

He also said tax regime for the power sector will be decided by power committee. Mr Jaitley said GST turnover of above 1.5 crore rupees will be assessed in the ratio of 50:50 by States and Centre. He also said assesses with GST turnover of 1.5 crore rupees or less, 90 per cent will be assessed by states and 10 per cent by administrative setup of centre.

Finance minister also said as per convention, states will be empowered to collect tax on any economic activity in marine region.

Mr Jaitley clarified that the power to levy and collect Integrated Goods and Services tax lies wth the centre.