A date for the
commencement of the goods and service tax regime, which
seeks to radically overhaul the country’s indirect tax
structure, is likely to be announced on January 8.
“There will be a joint statement after a meeting with
Union finance minister Pranab Mukherjee on January 8 on
GST rollout,” Asim Dasgupta, chairman of the state
finance ministers’ panel on GST and Bengal finance
minister, said here today. He was speaking on the
sidelines of the 23rd industrial trade fair, which is
organised by the Bengal National Chamber of Commerce and
Industry.
State finance ministers will meet on January 7 and
January 8 in Delhi to review the progress, and after a
meeting with Mukherjee, they would be in a position to
announce the launch date. However, Dasgupta did not give
further details on the schedule of the rollout.
GST, which will do away with most of the indirect tax
levies such as excise duty at the Centre and VAT at the
state level, is slated to be introduced on April 1.
However, there are apprehensions that its introduction
could be delayed. States such as Madhya Pradesh, Tamil
Nadu, Gujarat and Rajasthan are demanding that the
introduction of GST be postponed as there is no
consensus on the rates.
Asked whether a consensus with all the states had been
arrived at, Dasgupta did not make any comments. He said
progress had been made, which would make it possible to
introduce GST at the appropriate time.
Mukherjee himself said yesterday that the Centre might
miss the April 1 deadline because of a lack of consensus
among the 28 states.
Citing a lack of preparedness, a task force constituted
by the 13th Finance Commission had recently said the
implementation of GST should be postponed by six months.
Earlier this month, Dasgupta had said GST would have
four slabs. The rate would be zero for exempted items,
one standard rate for majority of the goods and services
and another having a moderate rate. Precious metals were
likely to continue to attract 1 per cent.
Price rise
Dasgupta said a relaxed essential commodities act and
“forward trading” had led to the rise in prices of
commodities. “During the NDA regime... there was a
complete relaxation of the Essential Commodities Act. We
are trying to bring that in order,” he said.
