Corporate Laws and Indirect Taxation Laws Practitioner.
Finance Minister Pranab Mukherjee today expressed confidence that the government can implement the Goods and Services Tax from April 1, 2010, with the support of all political parties. "I do not find any reason (why GST may not meet the deadline of April 1, 2010) if each and every section of the House feels yes it is worthwhile doing it," Mukherjee said today participating in a debate on the General Budget. The proposed GST will replace VAT, excise duty and service tax. There is an empowered group of state finance ministers who are working in close cooperation and Mukherjee is in touch with them
GST is surely going to improvise the tax system and will make it less complicated but it may also lead to unemployment to those working and specialising in service tax and excise upto some extent but as we say to Improvise something change is necessary.
i agree that governement will retain said departments but it may create some hindrances for people working in Private sector though not in initial years as for GST also precedents of all clubbed laws will prevail but in long run if such pvt. companies dont start working in field of GST.