Date for uniform goods and services tax Jan 8: Dasgupta

The date from which the much-awaited goods and services tax will come into force and replace a plethora of federal and state-level levies is expected to be announced on January 8, according to the chairman of a high-level panel on the subject.

The date from which the much-awaited goods and services tax (GST) will come into force and replace a plethora of federal and state-level levies is expected to be announced on January 8, according to the chairman of a high-level panel on the subject.

HT Image

"There will be a joint statement after a meeting with Finance Minister Pranab Mukherjee on Jan 8 on goods and services tax rollout," the West Bengal finance minister and chair of the empowered committee, Asim Dasgupta, said here Friday.

"We have a two-day meeting from January 7. We will meet the finance minister before giving a statement on this," Gupta told reporters on the margins of the 23rd Industrial Trade Fair organised by the Bengal National Chamber of Commerce and Industry.

His comment came a day after stating that it will be difficult for the federal and state governments to implement the goods and services tax regime from April 1 as targeted and that it will comeinto force at an "appropriate time".

The new regime is intended to achieve the larger target of a common pan-India market and uniform indirect taxes on goods and services across the country at lower rates by doing away with the cascading effect in the present format.