Two committees will be formed to sort out issues related to the implementation of the goods and services tax (GST), Finance Minister P. Chidambaram said Thursday.
Talking to reporters after meeting members of the Empowered Committee of State Finance Ministers here, Chidambaram said both the panel would work simultaneously and submit their reports by Dec 31, 2012.
"Two committees will be formed... both the committees will work simultaneously,” he said.
Chidambaram said one committee will look into the issues related to “confrontation” among the different stakeholders while the other will work on the “design” of the single goods and services tax.
Chidambaram expressed satisfaction over the progress made on the GST issues.
“A lot of work has been done. I am extremely happy and satisfied with the progress being made today,” he said.