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“It shall be the
endeavour of the Government of India to persuade the state governments and the
empowered committee of state finance ministers to reach a consensus so that GST
can be introduced with effect from April 1, 2011,” Minister of State for Finance
S.S. Palanimanickam informed the Lok Sabha in a written reply.
He said the implications of the goods and services tax, which will replace most
of the indirect taxes at the central and the state level, can be assessed only
after the basic design is finalised.
A joint working group comprising officers of the central government, state
governments and the Empowered Committee of States Finance Ministers has been
constituted to prepare the draft of the constitutional amendments, central GST
legislation, model state GST legislation and related rules.
GST implementation has been deferred from its earlier date of April 1, 2010.
Empowered Committee of state finance ministers (EC) has prepared and released
the first discussion paper on the Goods and Services Tax in India in November
2009.
Source:
The Hindu, India, dated
12/03/2010
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