GST, Direct Taxes Code unlikely in 2012

In a setback to the efforts of the Manmohan Singh Govt. to unleash the next generation reforms, the two major big ticket reforms – Goods and Services Tax (GST) and Direct Taxes Code (DTC) are unlikely to happen during 2012. With the winter session of Parliament visually coming to an end and the standing committee on Finance, looking into the DTC Bill expressing its inability to table the report in the current session, the introduction of DTC in the budget has taken a backseat.

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