State FMs to discuss GST roadmap on Sept 16  

The empowered committee of state finance ministers would meet on September 16 to discuss the roadmap for introducing the goods and services tax (GST) from April 2010. The committee is likely to discuss a list of exempt items, besides taking up various concerns of states.

The committee, during its previous meeting in August, decided to resolve the differences over the proposed tax regime, with certain states requesting the panel to also consider various suggestions put forward by traders.

The Centre is keen to stick to the scheduled date of April 1, 2010 for rolling out the GST that will replace excise duty and service tax by having a composite taxation regime.

States are likely to discuss rates which could start from 5 per cent on certain items and then move on to 10 per cent.

Source : Ethiopian Review,  dated 14/09/2009