GST council to mull rules of business

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New Delhi, Sep 22, 2016: In order to turn out a comprehensive indirect tax reform in the country on a set deadline of April 1, 2017, Finance Minister Arun Jaitley on Thursday vies to bring states and centre on an agreement for uniformed rules of GST council and business in a 2 day GST council meet beginning from today in New Delhi.

The meeting aims to roll out a complete map for GST regime and clearly direct states on tax rate, exemption and disputes. The program includes deliberations on the actual GST base rate, the various slabs, the items that need to be involved into and exempted from the new reform, and draft Central, State and Integrated GST laws.

A finance ministry official said: “A discussion on brawl resolution mechanism is also an important issue on the agenda.”

Earlier, a statement from FMO had said that the progress in GST is being monitored by Prime Minister Narendra Modi himself as “The PM has directed that all steps must be completed much before April 1, 2017.”

“In the wake to safeguard that there is no slippage on date of implementation of GST from April 1, 2017, The Prime Minister abstracted the progress made on diversified steps needed for the roll-out of GST relating to formation of model GST laws and rules to be framed, establishment of IT framework for both centre and states, coaching of officers and outreach for awareness of trade and industry.”

Wefornews Bureau

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