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Goods and Services Tax delayed, now from April 1, 2011
February 26, 2010
New Delhi: Finance Minister Pranab Mukherjee Friday said he would introduce major reforms for indirect taxes in the form of Goods and Services Tax (GST) from April 1 next year.
The government was earlier scheduled to introduce GST by April 1 this year.
"I am confident that the government will be in a position to implement DTC (direct tax code) from April 1, 2011. It will be my earnest endeavour to implement GST along with DTC from April 1, 2011," Finance Minister Pranab Mukherjee said during his annual budget speech in the Lok Sabha.
GST is India's most ambitious indirect tax reform, which seeks to bring together a common market and reduce costs to replace the current fragmented tax regime at central and states levels like service tax, excise duty, VAT, cesses, surcharges and local levies
The government was earlier scheduled to introduce GST by April 1 this year.
"I am confident that the government will be in a position to implement DTC (direct tax code) from April 1, 2011. It will be my earnest endeavour to implement GST along with DTC from April 1, 2011," Finance Minister Pranab Mukherjee said during his annual budget speech in the Lok Sabha.
GST is India's most ambitious indirect tax reform, which seeks to bring together a common market and reduce costs to replace the current fragmented tax regime at central and states levels like service tax, excise duty, VAT, cesses, surcharges and local levies
Business & Economy
Goods and Services Tax delayed, now from April 1, 2011
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50 percent increase in funding for minority welfare
Opposition joins hands to slam government on budget
Cigarettes, TVs, ACs and cars go dearer
Mere 4% hike in defence budget
Several more new generation private banks to come up
Budget Highlights
Thanks FM! tax burden lowered up to Rs 50,000
Worst over for Indian economy: Pranab Mukherjee
Income tax limits raised, no tax up to Rs 1.60 lakh
9 pc inclusive growth is Govt's challenge: Pranab
Lowering prices, ensuring high growth on Pranab Mukherjee's agenda
Pranab's Budget unlikely to roll back stimulus
Opposition walks out over Pawar's reply on price rise
India needs 6,800 more hospitals, NRHM has many glitches: Survey
Fiscal ending with economic rebound: FM
India, fastest growing economy in 4 years
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