“We are in the process of pre-budget discussions and despite the fact that GST is not too far in the horizon, every single industry association starts their discussions only with a series of exemptions which they would like to have,” said Shah.
The Union Finance Ministry has quashed reports of draft model law on goods and services tax (GST) being in the public domain and said the draft law will be finalised within a month and put up for comments and suggestions from the trade and industry community. “It is going to take at least another month by which we will be able to finalise the draft law...#
“So long as every tax which you pay across borders are being VATable so that the final product does not have any input taxes you should be comfortable, that really should be your concern and aims rather than look for any exemptions,” he added. (SH)
ALCHEMPro News Desk – India
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