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VAT introduction may be delayed

March 05, 2003 17:54 IST

The much-awaited introduction of value added tax regime from April one this year will be delayed by a few days because of some "unavoidable procedural tangles".

This was informed on Wednesday by Ramesh Chandra, secretary, Empowered Committee of State Finance Ministers, during an inter-active session with members of the Bharat Chamber of Commerce on "VAT and its possible implications" in Kolkata [ Images ].

Later speaking to newsmen, Chandra, quoting the Empowered Committee's last night's meeting in New Delhi [ Images ], said: "A final decision about the exact date of the implementation of VAT simultaneously all over the country except in Jammu and Kashmir [ Images ] and Arunachal Pradesh, will be taken by the finance ministry within the next seven days after considering all issues."

"It might take two to three days or about a week after April one for the actual implementation of the system after sorting out all procedural wrangling," Chandra said.

UNI

 

 

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