'VAT deadline will be met'

With Uttar Pradesh having accepted the value-added tax "in-principle", the convenor of the empowered committee, Asim Dasgupta today expressed confidence that the April 1 deadline for the introduction of VAT would be met.

He said a white paper on the new tax regime would be circulated among the states within the next 15 days.

The empowered committee, which met on the sidelines of the meeting of states on service tax, discussed the present state of play regarding the formulation of legislation by the states for introducing VAT and the countrywide publicity campaign for the new tax regime.

"The state (UP) has in-principle accepted VAT. But it now has to interact with the states' traders," said Dasgupta.