The Parliamentary Standing on Committee on Finance may not be able to submit its report on the Good and Services Tax (GST) during the forthcoming Winter Session. "The Committee is awaiting a report on GST from the Finance Ministry. As soon as we get that, it will start work on the GST. It would be difficult for the Committee to submit its report on GST during this (Winter) session of the Parliament," a source said after the panel's meet here.

After postponing it thrice, the Centre now aims to introduce GST from April 1, 2013. Once implemented, it will subsume most of the indirect central and states taxes, duties and service taxes. It was to be introduced from April 2010.

Source: Business Standard