The empowered committee of state finance ministers for implementation of value added tax would meet in first half of January 2004, to decide on the implementation of the new tax system.
"Though no date has been finalised as of now regarding the meeting of the committee in New Delhi, we are possibly going to meet in the first half of January," West Bengal finance minister Asim Dasgupta, who chairs the VAT committee, told reporters in Kolkata.
Asked if he believed that VAT might be introduced in the country from April 2004, Dasgupta said he would not comment on the possible dates.
He also said that 10 states were ready to implement VAT immediately. "These states account for 70 per cent of the country's total trade and business."
Dasgupta said that apart from traders, there was also a section of industry that was creating hurdles in the implementation of VAT. "It is regrettable that a section of industry is also supporting the traders."
