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While the
Empowered Group of state finance ministers chairman,
Asim Dasgupta expressed "absolute" commitment to
introduce GST on scheduled date of April 1, 2010, some
states like Madhya Pradesh expressed reservations over
it.
"We have reached a consensus so far as states GST is
concerned. There will be two rates, one standard rate
and the other lower rate for essential commodities,"
Dasgupta said after the group and union finance ministry
officials met here.
There will also be a "special GST rate" for a small list
of precious metals, he said, and a list of exempted
items.
However, the exact rates have not been decided as yet.
Source
:
Chennai Online, India, dated 16/09/2009
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