No consensus on petro products in GST

Consensus eludes States on the issue of treatment of non-Value Added Tax (VAT) items like petroleum products under the proposed goods and services tax (GST) regime. "I have got the views of the States in written form. We have not reached a unanimous position i.e. consensus position on what has to be done. It will be a fully accommodating position," Dr Asim Dasgupta, Chairman of the Empowered Committee of State Finance Ministers, on VAT, told Business Line. The Centre has already announced intent to introduce GST in 2010. A working group appointed by the VAT Panel for suggesting an appropriate model for GST has already submitted its report, which has been accepted by the VAT Panel. A dual GST system - one at the Central level and the other at the State level has been suggested.

Source : The Hindu BusinessLine, dated 21/12/2007