<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[<p>This is going to be one of the toughest assignments to take on. Ushering in the goods and services tax (GST) regime — it will replace a complex system of indirect state and federal taxes with a single tax — is going to be a difficult task to accomplish.<br><br>Asim Dasgupta, outgoing chairman and West Bengal's erstwhile finance minister, would have seen it through; he played a key role in ushering in the controversial value-added tax regime in 2005, which success got him the job of producing the same result with the GST.<br><br>His successor will probably have a torrid time. Many states (mainly those governed by the Bhartiya Janata Party) opposed the tax. The GST requires a constitutional amendment, so two-thirds of the states will have to ratify it.<br><br>Bihar's deputy chief minister Sushil Modi, deputy chairman of the group, is the frontrunner so far; he is with the BJP (the chairman is traditionally from one of the opposition parties in Parliament). He is likely to represent the concerns of the BJP-ruled states; given the BJP's ongoing battle with the UPA government, Congress-ruled states may make things hard for Modi. People are worried that no matter who takes over, it could delay GST's introduction.<br><br>Amit Mitra, Dasgupta's successor in West Bengal, is a former secretary general of the Federation of Indian Chambers of Commerce and Industry; he understands the GST's impact on the corporate sector, but may be less familiar with the political sensitivities.<br><br>Can Mitra and Modi work together? Both were active in the Akhil Bhartiya Vidyarthi Parishad in their college days. Ah, nostalgia.<br><br>(This story was published in Businessworld Issue Dated 06-06-2011)</p>