The Finance Ministry will present the Working Group report on the guidelines on the movement towards Goods & Services Tax (GST) to the Empowered Committee of State Finance Ministers soon, Adviser to Union Finance Minister Prathasarathi Shome indicated here.

“The overall structure of the recommendations for the Empowered Committee have been finalized. These will be taken up for discussion when the Empowered Committee meets for two days beginning from  November 28,” he said while speaking at an international tax conference organised by  Ficci.

Holistic view

Pointing out that preparations are going on at usual pace to put in place GST by 2010, Mr Shome said it was now for the political leaders to examine the recommendations and put them out for a wider public discussion.

He, however, said “a holistic view of GST needs to be taken by the stakeholders, not just how their immediate business interests would be affected. There are bound to be pluses and minuses, but eventually, the pluses will far outnumber the minuses.”

He underlined the need for a strategic partnership between taxpayers and the government in taxation.