GST…Not Coming Soon , While the Government’s started its ambitious goods and service tax (GST) project with a very bullish spirit but it has recently hit another roadblock in the country. It has been learned from the sources that the tax reforms may be delayed from its earlier deadline of April 2011 by upto a year.
In fact, sources are echoing that the Finance Minister Pranab Mukherjee may go slow on rolling out GST as the government has not managed to get a consensus among all the states.
Going by the information collected from the sources, while the Congress-ruled states have favoured it several BJP states are still playing hardball.
It may be recalled here that after the states objected to a clause in the draft GST bill giving the federal finance minister veto power over state tax matters, the finance minister dropped this clause altogether.
In fact, in addition to it the finance minister also promised states another revised draft of the GST bill to reflect these concessions. It may be noted here that the Direct Tax Code Bill will be tabled in the current session of the Parliament.
No comments:
Post a Comment