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New Delhi (ANTARA News/Asia Puse) - The Indian government on Friday said it will persuade states to reach a consensus on the Goods and Services Tax so that it can be implemented from April 1 next year.

"It shall be the endeavour of the Government of India to persuade the state governments and the empowered committee of state finance ministers to reach a consensus so that the GST can be introduced with effect from April 1, 2011," Minister of State for Finance S S Palanimanickam informed the Lok Sabha (lower house of parliament) in a written reply.

He said the implications of the goods and services tax, which will replace most of the indirect taxes at the central and the state level, can be assessed only after the basic design is finalised.


Source:
Business in Asia Today - March.15, 2010
published by Asia Pulse

Editor: Ricka
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