GST meet to break logjam to be held next month

 Sources said the meeting of is likely to be called by Finance Minister Pranab Mukherjee during the recess of the Budget session, which will begin on February 21.

The government proposes to introduce the Constitutional Amendment Bill on GST in the second half of the Budget session. Since 2007, the government has been trying to introduce the new tax regime, under which GST will subsume most of the indirect taxes of Centre and states.

GST has already missed the implementation timeline of April 1, 2010 and it is unlikely to be introduced from the coming April 1, the start of the financial year 2011-12.

Efforts by the Centre for consensus on proposed GST suffered a setback with 10 states opposing the new draft for the new regime that aims at changing India’s fiscal landscape.

Several states are opposed to draft proposals saying that their autonomy would be compromised. In its latest GST constitution amendment draft — the third of its kind — the Centre has proposed to give power to Parliament for constituting the GST council, a move opposed by BJP-ruled states.

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