GST roll-out by July?

Commercial Vehicle - - NEWS -

The much an­tic­i­pated Good and Ser­vices Tax (GST) could roll­out by July 01, 2017. Eco­nomic af­fairs sec­re­tary Shak­tikanta Das is known to have said that GST will be im­ple­mented by the said date, and not later than that as was pre­vi­ously thought. Ac­cord­ing to Das, both the cen­tral and state gov­ern­ments are work­ing in the di­rec­tion of rolling out GST by July 01, 2017. Many state gov­ern­ments had op­posed pro­pos­als un­der GST for eco­nomic and po­lit­i­cal rea­sons. It was some time ago that the news about GST Coun­cil ap­prov­ing law for com­pen­sat­ing states’ rev­enue loss broke cover. GST will re­place the en­tire gamut of taxes like the cas­cad­ing cen­tral, state, in­ter-state and lo­cal taxes with a sin­gle, na­tion­wide, val­ueadded tax on goods and ser­vices.

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