The Gujarat government may notify the new draft of the Goods and Service Tax or GST on November 10 to invite views and suggestions from stakeholders, including the industry, business, trade, small and medium-scale industry, government officials as also experts. The new tax regime is likely to be implemented from April next year, say media reports.
Minister of state for finance & industry Saurabh Patel, on the sidelines of the National Empowered Committee meeting held recently on GST, raised the question of abolishing the central sales tax or CST with the introduction of GST. He also emphasized the need for an effective technology-based transparent system to monitor the inter-state movement of goods to avoid large-scale irregularities.
He further raised the issue of the autonomy of states in administering the VAT, and demanded protection for the small-scale industry under the proposed GST regime.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.