28 February 2011
hi... experts.... FM said today i budget that GST will be introduced on 1 APR 2012 but issues are still pending to be discussed with state government....I have doubt that most of the Indirect Tax is already collected by Central Government so, why the approval of state government is required?
01 March 2011
GST is supposed to converge both central and state indirect taxes. Moreover states will be able to charge GST on services which is not allowed at present. Therefore, constitution has to be amended and has to be approved by at least 50% state assemblies.
CAclubindia
