Govt aims to roll out GST from April 1 next year
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The Government has set the target of 1st April next year for roll out of the Goods and Services Tax, GST.
Addressing a press conference in New Delhi, Finance Minister Arun Jaitley today unveiled a detailed road map for GST implementation.
He said that government is aiming for an optimal rate of taxation though the final decision will be taken by the GST Council.
As regards the impact of GST roll out on inflation, he said the tax rates will come down over the years and hence the prices of many commodities will also decline.
The Finance Minister said, once GST is rolled out, doing business in India would be easier and it would help a large body of traders, business people and also the citizens.
He said, State governments of all political parties were overwhelmingly in support of the GST legislation. Asked if Tamil Nadu will come on board for GST implementation as AIADMK members walked out of Rajya Sabha before voting, Mr Jaitley said, India has political parties which are extremely responsible.
The Bill, which was cleared by the Rajya Sabha last night, is likely to be approved by the Lok Sabha this week after incorporating changes made by the Upper House. #casansaar
Addressing a press conference in New Delhi, Finance Minister Arun Jaitley today unveiled a detailed road map for GST implementation.
He said that government is aiming for an optimal rate of taxation though the final decision will be taken by the GST Council.
As regards the impact of GST roll out on inflation, he said the tax rates will come down over the years and hence the prices of many commodities will also decline.
The Finance Minister said, once GST is rolled out, doing business in India would be easier and it would help a large body of traders, business people and also the citizens.
He said, State governments of all political parties were overwhelmingly in support of the GST legislation. Asked if Tamil Nadu will come on board for GST implementation as AIADMK members walked out of Rajya Sabha before voting, Mr Jaitley said, India has political parties which are extremely responsible.
The Bill, which was cleared by the Rajya Sabha last night, is likely to be approved by the Lok Sabha this week after incorporating changes made by the Upper House. #casansaar
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