The government today hoped rollout of Direct Tax Code by April 2012 but things are not on track in case of Goods and Services Tax (GST). “DTC will be rolled out in April 2012 but for GST I think the date seems ‘optimistic’ under the present circumstances,” Revenue Secretary Sunil Mitra said.
“Cabinet had just approved the GST Constitution Amendment Bill, and in all possibility it will go to a Parliamentary Standing Committee. It would depend on when they will submit their report and still there are divergences on views,” he said.
However, a pilot project in June with 11 states for GST IT Network will be created. It will be a major step forward, he said.
Speaking on DTC, Mitra said the revenue department will offer the clarifications by early April sought by the Parliamentary Standing Committee on Finance.