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"There has been considerable progress in preparing a
roadmap for introducing the GST and we value the suggestion the Chamber is able
to provide on the approach of introducing the GST," Finance Minister Pranab
Mukherjee said on Wednesday at a PHD Chamber function.
The government has set April 1, 2010, as the deadline
for implementing GST, but apprehensions are being expressed on bringing in the
new tax regime from the scheduled date as a lot of ground work is yet to be
done.
Another major task before the Finance Ministry is
implementing the Direct Taxes Code, that will replace the Income Tax Act, 1991.
The Minister further said the government will take
inputs from various stake holders, including industry chambers before finalising
the Code.
"In this connection (taxcode) I would also like to point
out... That I have an open mind. It is not that something has appeared in the
code and that is why we have to stick to it," Mukherjee added.
Source:
Hindustan Times, India, dated
23/12/2009
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