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GST draft to FM tomorrow
November, 10th 2009

The Empowered Committee of State Finance Ministers will submit to the Centre the first draft on the Goods and Services Tax tomorrow.

The first discussion paper on Goods and Services Tax (GST) would be submitted to Finance Minister Pranab Mukherjee by the Empowered Committee of State Finance Ministers on November 10 and then placed for public comments.

The preparations for the implementation of the direct tax regime are on, but speculations are rife that there could be a delay in introduction from scheduled date of April 1, 2010.

Even Mukherjee had recently said, "I am trying to stick to the time schedule, but I will not be surprised if there is slippage of a few months.

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