PM seeks CMs cooperation for GST implementation

Jul 24, 2010 |

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New Delhi, July 24: Prime Minister Manmohan Singh today asked states to embrace the Goods and Services Tax from the next fiscal, saying replacement of most indirect taxes by this will help in greater revenue mop up.

The Centre earlier this week proposed three different rates -- 20 per cent for goods, 16 per cent for services and 12 per cent for essential items -- under GST.

"Reform of tax structure and tax administration is another important step in resource mobilisation. The GST is especially important in this context and I would urge Chief Ministers to give full support to the effort to implement GST with effect from April 1, 2011," Singh said at the National Development Council (NDC).

The GST would replace excise and service tax at the central level and VAT at the state-level.

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