Wednesday, 11 January 2017

Hopeful of resolving issues to roll out GST from Apr 1

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Finance Minister Arun Jaitley today reiterated that the Centre is still aiming to roll out the Goods and Services Tax (GST) regime from April 1 if all pending issues are sorted out. GST, which is to subsume most of central and state taxes like excise, service tax and VAT, needs to roll out by latest September 16, 2017. This because, under the Constitutional Amendment passed by Parliament for the GST implementation, some of the existing levies would expire after September 16. 

He also said the government was aiming to implement the new sales tax from April this year. "We would want it to be implemented from April if all issues are resolved." "There is a provision for GST implementation because constitutional amendment has been passed. So it's Constitutional necessity that before September 16 it should be rolled out, on the sidelines of the Vibrant Gujarat Global Summit here.

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