Finance Minister Jaswant Singh said on Wednesday the value-added tax system cannot be implemented across the country until all preparations are completed.
Prices of essential commodities are likely to rise because of the strike, which has been called to protest against frequent hikes in diesel prices and value added tax.
Maharashtra is likely to incur a revenue loss of Rs 1,500-2,000 crore (Rs 15-20 billion) in the current fiscal due to implementation of value added tax.
The nation-wide two-day bandh by traders against introduction of the much-touted value added tax evoked a mixed response on its opening day on Monday affecting commercial activities to a great extent.
New GST rates are between 5-18% on sectoral products
The much-awaited introduction of value added tax regime from April one this year will be delayed by a few days because of some "unavoidable procedural tangles".
With 21 states having implemented value-added tax and eight states still to adopt it, the impact of the new tax regime is seen largely positive for sectors like FMCG, paper and pharmaceuticals.
The states have been dismissive of the Centre's suggestion to cut taxes and advance the date of implementation of value added tax regime for medicines
In an attempt to bring uniformity in prices of medicines, Chemicals Minister Ram Vilas Paswan on Wednesday asked the states to exempt them from local taxes or at least advance the implementation of value-added tax regime for drugs.
The prices of essential commodities like flour and vegetables have flared by 18-20 per cent in Delhi as wholesale trade has slumped to a third ever since the state switched to the value-added tax regime on April 1.
Amazon's fulfilment centres, which store products of hundreds of vendors selling on the American online major's platform, are being cited by Karnataka state government authorities as a primary concern in an ongoing tax dispute.
The empowered committee of state finance ministers is firm on sticking to the April 1 deadline for switching over to Value Added Tax despite the "friction" coming in the way from traders and a handful of states.
The finance ministry will set the ball rolling for an early introduction of a nationwide value-added tax with a two-day meeting of state finance ministers starting in New Delhi on Friday.
Eminent economist Prabhat Patnaik has contested government's argument that value added tax will be revenue-neutral in the long run, saying the very nature of the new tax system is such that the states are sure to lose revenue.
The Planning Commission has favoured the early introduction of nationwide value-added tax regime to augment revenues of the states and further restructuring of their costly debt to reduce their interest burden.
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