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First notification of Goods & Service Tax (GST)
November, 03rd 2009

The Gujarat government is likely to issue the first notification of the new draft Goods & Service Tax (GST) on November 10 to elicit suggestions from various stakeholders. The new tax regime is likely to be implemented from April 2010.

This was stated by a highly-placed source in the state finance department. Saurabh Patel, minister of state for finance & industry, confirmed it and told DNA, "We are likely to publish the first draft of GST notification on November 10 to invite views and suggestions of all stakeholders, like industry, business, trade, small & medium scale industry, government officials, experts etc. We will invite written suggestions from all the stakeholders.''

He added, "I recently attended a meeting of the National Empowered Committee on GST and presented Gujarat's views on it. We have said that CST (central sales tax) must be abolished with the implementation of GST and there must be effective information technology-based transparent system to monitor the inter-state movement of goods.

Else, there is chance of large-scale irregularities. Another important issue is of VAT on imported goods, which can create complications. We have also raised the important issue of autonomy of states in VAT administration. We have also demanded protection of small-scale industry under the new GST administration.

Patel further said that the state had demanded an open debate on the rate of GST and exempted category of products under this system. The monitoring of inter-state movement of goods is also a grey area where the Centre has not given any clarification so far.

"This is the area where maximum tax evasion is possible. There must be a full-proof system of monitoring inter-state movement of goods," he said.

 
 
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