Mukherjee seeks coop of all parties to implement GST in time

Finance Minister Pranab Mukherjee today sought cooperation from political parties ruling different states for the introduction of Goods and Services Tax from April 1, 2010, saying it will lead to a sustained rise in tax revenue.

"The introduction of the GST in 2010-11 is expected to bring a sustained rise in the tax revenue and here comes (in the picture) the cooperation of all sides belonging to this house," he said in the Lok Sabha while replying to debate on General Budget.

There is an empowered group of state finance ministers who are working in close cooperation and Mukherjee said he was in touch with them.

The proposed GST will replace VAT, excise duty and service tax.

"But if every section of the house cooperates, it will be possible for the government to introduce the GST from April 1, 2010," he said, adding that it will substantially help meet the challenges which are not only of this government but of the nation.

In the annual budget on July 6, the government expressed its commitment to introduce the uniform indirect tax structure across the country from the next fiscal after consultation with states.