NEW DELHI: The Government today ruled out centralised registration for banks under the Goods and Service Tax (GST) and has mandated separate registration for each state they operate in.
Banks have been demanding a single centralised registration system, like at present, as they feel multiple registrations would create procedural and compliance problems.
“They have no choice. They have some issues relating to registration which will be resolved in due course,” said a top finance ministry official.
At a meeting of finance ministry with the heads of public sector banks here today, a separate session was held on issues related to GST.
“We have eased some of their problems. GST will be rolled out as per schedule from July 1,” the official said. (AGENCIES)
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