News Clippings About On GST In India

Online, March 21, 2011 (Newswire.com) - The finance ministry moved a step closer to the proposed Goods and Services Tax (GST) by taking the President's approval for introducing a Constitution Amendment Bill in Parliament. Even as some government departments have raised concerns on the Bill in its
Present form, the finance ministry has decided not to delay any further and may table it in Parliament next week.

The finance ministry had received comments from about 18 government departments on the proposed amendments. While the Department of Telecommunications and the Department of Industrial Policy and Promotion have suggested that diesel be part of GST, the Planning Commission has suggested a 'flawless' GST model based on the recommendations of the Task Force of the Thirteenth Finance Commission.
Source: [Business Standard] Dated: 17th March, 2011

The government is likely to table the Goods and Services Tax (GST) Constitution Amendment Bill before Parliament in the next 4-5 days, said a senior official. "The Cabinet has cleared that proposal (on GST). In another 4-5 days we should be able to put it in Parliament," Central Board of Excise and Customs (CBEC) Chairman SD Majumder said at a PHD Chamber event.

Majumder further said there are some differences on the GST structure with a few states, adding that he is hopeful of GST rollout sometime in 2012.He added that the government is mulling to float a special purpose vehicle (SPV) for setting up IT infrastructure in GST. The SPV, called GST Net, will have the government, the states and technology partner National Securities Depository (NSDL) as its stakeholders. "The SPV will be owned by three stakeholders--Centre, 30 plus states and the technology partner. And we have identified the technology partner NSDL," Majumder said.
Source: [Business Standard] Dated: 16th March, 2011

The Cabinet approved a Bill to usher in a national goods and services tax (GST), the finance minister said, the final step in the country's most ambitious tax reform before introducing it in Parliament. Finance Minister Pranab Mukherjee reiterated his commitment to send the proposed legislation to Parliament during the current session that ends March 25.
Source: [Business Standard] Dated: 15th March, 2011