Finance Minister Jaswant Singh said on Wednesday the value-added tax system cannot be implemented across the country until all preparations are completed.

"We cannot support the implementation of VAT until all preparations and groundwork are completed," Singh told Parliament.

He said the states should stick to the agreed principles and rates for the implementation of VAT across the country.

VAT is India's most ambitious tax reform in 50 years which aims to cut multiple layers of taxes. India has set June 1 for launch of VAT in many states.

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What do you think about the story? Read what others have to say: Number of User Comments: 7 Sub: VAT - groundwork The FM has miserably failed in implementing the VAT. We have wasted thousands of fruitless mandays in agitation/discussions/seminars. The opposition demands resignation if any one ... Posted by y s rajgor Sub: VAT VAT as such is definitely fine, but it gives lot in the hands of bureocrats. and to deal with them in India as the world ... Posted by aamir Sub: Need guts Last year they kicked VAT stating some miscreants raided Parliament, This year they are having some other reason.It seems there is no guts to implement ... Posted by Raphel John Sub: vat The BJP GOVT has failed in implementing the VAT. They have wasted people money. they are watching comming elections . this people will not be ... Posted by raghu Sub: NON IMPLEMENTATION OF VAT It is not understandable how the Central and State Governments are playing Cat and Mouse with each other.Valuable time has been expended in deliberations on ... Posted by PREMRAJ PATRA