Date:16/12/2004 URL: http://www.thehindubusinessline.com/2004/12/16/stories/2004121603060300.htm

Back State Finance Ministers meet on VAT next month

K.R. Srivats

New Delhi , Dec. 15

STATE Finance Ministers may meet in the first week of January to "endorse" the White Paper on the proposed Value Added Tax (VAT) regime that is to replace the sales tax system from April 1, 2005.

Informed sources said that a draft version of the white paper has already been sent to various State Governments for their comments. "The white paper would be released only after obtaining the endorsement of the State Finance Ministers," sources said.

Indications are also that the Empowered Committee of State Finance Ministers on Value Added Tax may invite the Finance Minister, Mr P. Chidamabaram, for releasing the paper.