ECSFM to meet to resolve VAT issues

The Empowered Committee of State Finance Ministers (ECSFM) would be meeting on February 7-8 to solve the pending issues over introduction of value added tax (VAT) in place of state and central taxes from April 1 next. Secretary to ECSFM Ramesh Chandra on Tuesday informed members of Ficci that VAT was set to be introduced in all the States of the country except the eight NE States, Himachal Pradesh and Jammu and Kashmir from April 1. “Already 18 to 20 States where VAT WOULD be implemented have submitted their draft proposal to the Centre and even the rest two would submit within a day or two,” Chandra said.