GST issue will be resolved soon: ChidambaramJuly 13th, 2012 - 5:51 pm ICT by IANS
Chandigarh, July 13 (IANS) The government will soon resolve the issues hindering the implementation of goods and services tax (GST) that aims to bring uniformity in indirect taxes across the country, Home Minister P. Chidambaram said Friday.
“I am sure it will be resolved. I hope it will be resolved soon,” Chidambaram said while addressing a press conference here.
He said the empowered group of state finance ministers was looking at the issue and it would reach the conclusion soon.
“As you know there is an empowered group of state finance ministers, headed by finance minister of Bihar. I am confident that they will find a solution,” he said.
Chidambaram expressed hope that the new taxation system, which aimed to integrate the country in a common market by bring in uniformity in tax rates, will be implemented soon.
Several states, especially those ruled by BJP like Madhya Pradesh, Gujarat and Karnataka, have been opposing the new tax regime saying it would undermine the states’ financial autonomy.
The issue of compensation of revenue losses incurred due to reduction of central sales tax rate is another sticky point.
- GST panel asks centre for more flexible approach - Aug 19, 2011
- Finance ministry hopeful of breaking GST deadlock - Oct 29, 2010
- DTC bill in current session, GST will be delayed - Aug 24, 2010
- GST bill can be passed in current fiscal: Chidambaram - Aug 28, 2012
- FICCI wants flat 12 percent GST and all sectors under it - Aug 18, 2011
- Government working for early implementation of GST: Mukherjee - Feb 22, 2012
- Haryana seeks Rs 3,000 crore from centre - Apr 22, 2012
- No consensus on Goods and Services Tax: Official - Apr 13, 2011
- Direct tax code to come into force from April 2012: Pranab - Dec 07, 2011
- Some exemptions to continue in GST system - Mar 07, 2011
- Make good states' revenue loss, Jayalalithaa tells PM - Apr 14, 2012
- GST likely to come into effect from next fiscal: Sushil Modi - Apr 18, 2012
- Indian states' finance ministers conclude Europe tour - Sep 17, 2011
- 'Tax reforms in India lag behind growth' - Jun 20, 2011
- Hoping service tax target will be exceeded: Mukherjee - Jun 20, 2012
Tags: bihar, bjp, chandigarh, common market, finance minister, finance ministers, financial autonomy, goods and services tax, gujarat, home minister, indirect taxes, karnataka, madhya pradesh, revenue losses, sales tax rate, state finance, tax rates, tax regime, taxation system, uniformity