First Discussion Paper on Goods and Service Tax (GST) Released

The discussion paper will inform how Goods and Service Tax (GST) will be composed. It possibly will available in the House in the forthcoming winter session as the deadline for introduction of GST is April 10, 2010. However, Mukherjee has already sensible recently that there might be a delay in application of GST as there is a lack of consensus among states.

So the main line-up for the government is to sort out the issue of compensession to the states. Two-third majority must for endorsement, after that the state assemblies will approve it. The States and the Centre also decide on who will execute the new GST.

Discussion with the state finance ministers will tomorrow about constitutional amendment to the indirect tax structured. The paper determines some intelligibility on the framework of GST as states would desire. Exactly, five months before the deadline of GST the discussion paper is released.

Download First Discussion Paper on Goods and Service Tax (GST)

Dear friends, we will discuss Goods and Service Tax (GST) in detail on forthcoming articles. We will cover all aspects like concept of GST in India and in other countries, How GST will work etc. So stay in touch and don’t forget to subscribe your email id for latest updates directly in you email Inbox.

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Tagged as: discussion paper, GST