GOODS
and Service Tax (GST) has been one of the most awaited and talked about
piece of tax reforms that the country expects. The Union Finance
Minister in his Budget '12 speech on the floor of the House expressed
that the GST network is scheduled to be made operational by Oct, 2012.
The same and erstwhile April, 2010 deadline went for a toss due to
several hurdles. The Constitutional Amendment Bill was introduced in Lok
Sabha on 22nd March, 2011. It lays necessary foundation for
implementation of GST. There are several hurdles that are being faced
and resistance that prevents GST to take the centre-stage. Due to this, GST still hangs on the hinges!
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