FM: GST only when states are on board

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Posted: Wednesday, Nov 04, 2009 at 0008 hrs IST
Updated: Wednesday, Nov 04, 2009 at 0008 hrs IST

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New Delhi: Finance minister Pranab Mukherjee on Tuesday said the new goods & services tax regime would be rolled out only once all states are on board. Industry and tax practitioners have expressed concerns about the shape GST may take if the Centre is keen on meeting the April 1 deadline. “There will be no half-baked GST, but a foolproof GST,” he said at an economic editors’ conference.

“GST is on track and will significantly increase indirect tax revenues. The empowered committee of state finance ministers is expediting discussions on some contentious issues. But the rollout will only happen when convergence is achieved between the Centre and all states,” Mukherjee said.

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FM: GST only when states are on board

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