Goods and Service Tax – GST – By: – Nagesh Bajaj – Dated:- 14-1-2011 Last Replied Date:- 30-12-1899 – Now it has almost become clear that the Goods and Services may not meet its deadline of April 1,2011 due to lack of consensus among the States and the Centre. So, we have to wait more for the new tax regime which is expected to replace excise duty , service tax on the Centre's end and VAT on the States front, besides local levies ,cesses and surcharges. The Government failed to tabled the Constitution Amendment Bill in the monsoon session of the Parliament as the BJP-ruled states raised their voice against the revised draft of the Centre on the Constitution Amendment Bill. However, a recent statement by the Finance Ministry indicated t
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of the State Finance Ministers because it proposed to give Veto Power to the Union Finance Minister on the State taxation issues. However, the revised draft from the Finance Ministry drops the main issue of giving Veto Power to the Union finance Minister and said that the Council could take a decision only when there is a Consensus. But the BJP-ruled States along with some of the allies of the UPA, have been opposing the revised draft of the Constitutional Amendment Bill on GST and asked for more time to study that and give their views on the various provisions in the GST Bill . Also, they wanted to know the clear meaning of the consensus and suggested changing the word with consent . In order to remove their concerns , the Finance Ministr
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