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Dasgupta,
head of the empowered committee of state finance ministers on
Value Added Tax (VAT), recognized the role of ICAI in
implementation of the VAT regime, claimed Ved Jain, president
of ICAI.
ICAI
was scheduled to meet the minister again in a month's time.
ICAI had been studying GST in various countries, and included
these inputs in the concept note, Jain said. Discussions
were on a macro level, said N Haldar, chairman of the eastern
regional council of ICAI.
The
final version of the GST should be ready in a few month as the
Finance ministry had approved the GST model and road map in
April this year.
With
implementation of GST in 2010, central sales tax (CST) would
be gradually phased out from 3 per cent now.
ICAI
had suggested in November 2007 a two-tier GST model with
central GST at 12 per cent and state level GST at around 6-8
per cent, Jain said. Besides working on features of GST
including accounting, valuation and auditing guidelines, ICAI
could aid the state government in training government
officials for implementation of GST.
ICAI
organised seminars and training sessions round the year for
chartered accountants and now, joint seminars for both CAs and
government officials could be held.
Source
: Business Standard, India, dated 09/07/2008
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