April 1 deadline for GST a stiff target: Jaitley
Union Finance Minister Arun Jaitley on Wednesday said the April 1, 2017, deadline to roll out the goods and services tax (GST) was stiff, as there were a few hurdles ahead.
He added the Centre and states were “running against time”, and there were issues, which the proposedCouncil needed to address.
“After the notification and constitution of the GST Council, there are obviously some pending issues, which the council will have to resolve. So we have September and October, and, parts of November to do that,” said Jaitley at the The Economist India Summit in the national Capital.
Later, a senior finance ministry official said there were three issues — GST rates, dual control over assessment and scrutiny of assessees, and geographical or area-based exemptions.
“If we are able to successfully transact those issues, the pieces of legislation would be introduced in Parliament in the winter session. Looking ahead, it’s very stiff. We are running against time,” said Jaitley.
More than half the states have ratified the Constitution amendment Bill, passed by Parliament on August 6. Only the President’s assent is left to make it a law.