GST bill to be tabled in Parliament this fiscal: FM
The government is expected to introduce the Goods and Service Tax (GST) bill in the Parliament before the end of the current financial year.business Updated: Aug 28, 2012 22:55 IST
The government is expected to introduce the Goods and Service Tax (GST) bill in the Parliament before the end of the current financial year.
“I have discussed the issue of GST with Sushil Kumar Modi, and we’ll get the bill introduced before the financial year ends,” finance minister P Chidambaram said on Tuesday.
On the direct tax code (DTC), however, he said he needed time to examine issues before making any commitment. Modi, the deputy chief minister of Bihar, is the chairman of the Empowered Committee of state finance ministers for the implementation of GST.
Pegging at Rs. 5.05 lakh crore target for the current fiscal, Chidambaram wants central excise, customs and service tax department to be taxpayer-friendly.
“We’ve to establish a friendly tax collection regime and should not appear to be hounding tax administrators,” said Chidambaram after Tuesday’s conference of chief commissioners and directors general of central excise, customs and service tax.
The taxdepartment will launch a campaign to create awareness among businessmen and traders to pay service tax. “People complaint about tax laws and it’s only a small number that is non-complaint. We’ve got to be firm with them,” Chidambaram said.