The final draft for the goods and services tax (GST), the much-awaited indirect tax reform, could be out by May this year, after the empowered committee of state finance ministers meet next month. The draft s release, an important step for introducing GST by April next year as scheduled, has to be carried out by May. This is because the 2011 elections in West Bengal will decide if the chairman of the empowered committee of state finance ministers, Asim Dasgupta, will continue in his capacity. Dagupta is expected to play a crucial role in steering states to a consensus on the …

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