i, es to states for introduction of Cabinet os GST bill TIMES NEWS NETWORK necessary to sustain 910% ecot nomicgrowth. : Analysts said Cabinet ap- proval’ for the Constitution amendment bill was akey step tation of the’ country’s most “This definitely is most im ambitious taxreform. portant. Once it is approved by : The government will aim to Parliament, it has to be ap : introducethebillin thecurrent proved by 50% of states. Once : session of Parliamentafter law’ that is done, it creates condi- tions for implementing GST,” :. ministry makes some changes. i A constitutional amend- ! ment is necessary to give the id. }) power of taxation of all servic- Finance minister Pranab Mukherjee The introduction of GST at E —_ =~. the central level willnot only in- ; GST atthestate level. The pow- an uphill task.as consensus clude more indirect central tax- : er of levy of service taxesnow amongstatesis yettoevolveon es and integrate goods and ser- 4 vests only with the Centre. key issues. Revenue secretary vice taxes for the purpose of i Finance‘ minister Pranab Sunil Mitra has ‘said it may be set-off relief, but may also lead : Mukherjeehassaidthegovern- difficult to implement GST torevenue gain for the Centre, : mentwillintroduce the Consti- from April 2012 and the date It is expected to. widen the : tution amendment bill in the could be pushed to June. The dealer base by capturing value } current session of Parliament: government has missed its addition in the distributive : and work is.also underway on deadline of introducingGSTin’ trade and increased compli- : drafting of a model legislation thepast. ance, the finance ministry says. : forthe centralandstateGST Mukherjee has sought fhe Because of the removal of cas- : Butimplementing GST, the industry's help to create con- cading effect, the burden of tax : country’s most. ambitious tax’ sensus on implementing GST under GST on goods is expected ? reform, by April, 2012 may be and other economic -reforms.. to fall.!