Wednesday November 4, 03:55 AM

Source: Indian Express Finance

FM: GST only when states are on board

By fe Bureaus
Finance minister Pranab Mukherjee on Tuesday said the new goods & services tax regime would be rolled out only once all states are on board. Industry and tax practitioners have expressed concerns about the shape GST may take if the Centre is keen on meeting the April 1 deadline. There will be no half-baked GST, but a foolproof GST, he said at an economic editors conference. GST is on track and will significantly increase indirect tax revenues. The empowered committee of state finance ministers is expediting discussions on some contentious issues. But the rollout will only happen when convergence is achieved between the Centre and all states, Mukherjee said.