December 14, 2016 9:44:07 pm
Amid concerns of missing the GST rollout deadline of April 1, the government today came out with a report card detailing the efforts being made to reach a consensus on support legislations for timely implementation of the new indirect tax regime. “All efforts are being made to meet the necessary deadlines to ensure that GST is rolled out by April 1, 2017,” said the Finance Ministry’s report card on GST implementation.
The GST Council, which took over the job of rolling out the new indirect tax regime after the Parliament passed the Constitutional amendment and half of the states ratified it, has taken major decision on fixing tax rates, compensation to states and threshold of exemption. The Council, headed by Finance Minister Arun Jaitley and comprising representatives of all states, has been “very cordial and all decisions till now have been taken by consensus.”
“As compared to the time taken in arriving at a consensus on the Constitutional Amendment Bill for GST, the subsequent events after the passing of the Bill indicate that the Government of India and the states have done remarkably well in taking all necessary steps for implementation of GST,” it said.
The government lost no time in implementing the Goods and Services Tax (GST) so far and a number of important decisions have been taken in six meetings of the Council, the report card added. The Finance Ministry’s statement comes days after the GST Council for the third time failed to arrive at a decision on administering the new indirect tax regime which will have shades of both central and state levies.
“At present, agenda items pertaining to GST related draft laws and provisions for cross empowerment to ensure single interface under GST are under consideration of the GST Council. “99 Sections the Model GST Law have already been considered by the Council and remaining Sections will be discussed in the next meeting of the Council scheduled for December 22-23, 2016,” it said.
The last GST Council meeting on December 11 could not find time to discuss the all important issue of cross-empowerment. “Members of the Council are participating in the meetings with a very positive attitude and are working towards the roll-out of GST as per the deadline,” the statement added. The GST Council in its first meeting had decided that GST would be rolled-out by April 1, 2017, it said.
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