A discussion paper on Goods and Services Tax, GST, was released in New Delhi today in a bid to take all stakeholders on board before taking a final decision on its implementation. The draft paper was released by the Chairman of the Empowered Committee of State Finance Ministers and Finance Minister of West Bengal, Mr. Asim Dasgupta in New Delhi today. Highly placed sources said that the proposal of the Centre to implement the GST by the first of April next year may not materialize due to sharp differences among various states and the Centre on the revenue losses. Though the centre may bring a bill in the coming winter session of Parliament, the sources said it will take some more time to implement the Indian model of GST as states will wait for the Central Finance Commission to come up with its recommendations regarding compensating their losses.Briefing reporters, Mr. Dasgupta said that there will be two kinds of GSTs , one at the central level and other at the state level. He gave the details of the items covered under the Centre and state GSTs.He, however, said that alcohol and petroleum products will not be covered under the GST and the Empowered Committee will start discussions with traders and entrepreneurs from this evening itself.Replying a volley of questions, Mr. Dasgupta said that the industry will be given enough room after the GST is implemented so as to allow them to adjust to the new system.Earlier, addressing the concluding session of the Empowered Committee of State Finance Ministers, the Union Finance Minister, Mr. Pranab Mukherjee assured that the recommendations and suggestions made in the discussion paper will receive in depth attention . This, he said, will help in jointly finalizing the structure and design of GST at the earliest.