Empowered Committee confident of GST launch in April 2010

New Delhi, July 17 (UNI) The Working Group on Goods and Services Tax (GST) will have the road map for the introduction of GST ready by September this year and plans to launch GST in April 2010.

This was stated by Empowered Committee of State Finance Ministers Member Secretary Satish Chandra while inaugurating a workshop on 'Understanding ESOPs, Service Tax and Roadmap for GST' organized by industry chamber Ficci here today.

A statement issued by Ficci quoted Mr Chandra saying that '' April 2010 is a feasible date for the introduction of GST as the groundwork for movement towards GST has been laid out in a systematic manner''.

Speaking on the complexities in implementing GST Mr Chandra said, ''In the case of VAT, we were dealing with state taxes.

For GST, however, we are engaging ourselves with both Central and State taxes. While the States and the Central Government are concerned about the revenue implications, industry wants all taxation related hurdles removed''.

Mr Chandra said that initially all the stakeholders will have to work in a 'give and take' situation. Once the initial hurdles are crossed, 'GST will be a very important reform'he added and appealed for cooperation by the State and Central Governments.

UNI