Vigorous task is at the overhead and continual for the Union Government in concerning the matter of Goods and Service Tax. Government is still not sure about the proposed GST would come on time or not. The Finance Minister with chairman of the Empowered Committee of state finance ministers Asim Dasgupta got-together last week to stretch the topic of the proposed GST.
The two days State- Center meeting, which were held on January, 7th, 8th, 2010 could not became visible for solving the issues. The meeting was with the purpose to release a revenue neutral rate for the GST system. But yet the Government are in mood to holdup the considerations. There some contentious matters of States are to be resolved in taking the assignment of compensation for State and Center on account of revenue loss once the GST regime has been in role.
Once again the panel of experts will likely to sit together at the end of this month. Discussions will be continued to transform the country into a National common market. Rates and dates of the proposed GST implementation will be finalized hopefully till end of the month. Goods and Service Tax regime that harmonize the Indian Indirect Taxation System is riding with many issues. And, day by day it is becoming a difficult challenge for the Union Government to introduce this uniform taxation at the scheduled date on April 1, 2010.