The Reader

Goods & Service tax to be introduced by April 1

The West Bengal Government is determined to introduce the Goods and Services Tax (GST) by the April 1, 2010 deadline, state Finance Minister Asim Dasgupta today said. '' We are determined to impose GST in our state by April one, 2010. There will be no change in the process of implementation, '' Dr Dasgupta said while addressing the national executive committee meeting of Federation of Indian Chambers of Commerce and Industry (FICCI). '' We have had positive discussions at the national and state levels regarding endorcement of GST. All the trade bodies supported introduction of this tax structure, '' he said. Explaining that GST was not 'simply VAT plus service tax' but an improvement over the present system of VAT, he said it was a significant step forward in tax reforms in the country. '' If the GST is properly implemented, it would benefit the buyers to a great extent, '' the Minister said. A joint working group of officials of the state and Central Governments was working on a draft legislation for constitution amendment, draft legislation for Central GST and rules and procedures for CGST and SGST, Dr Dasgupta said. – www.centralcronical.com