New Delhi, March 4: Making a breakthrough in implementing the new tax reform, the all power GST Council headed by Finance Minister Arun Jaitley on Saturday cleared the GST laws in its eleventh meeting on Saturday.
After the meet, FM Arun Jaitley address media and said, Goods and Services Tax (GST), is on track and July 1 is going to be its likely date of implementation.
Final drafts of cGST & iGST laws were circulated to GST council said Jaitley. He added, “Today, laws were put for discussion and the GST council apporved the laws.”
He added: It (GST) looks on track. Subject to Parliament approval, it looks like the possible date of implementation of GST is July 1.
On approval of Central GST and Integrated GST laws by GST Council, Jaitley said the decision was unanimous and all the states supported it.
Now the State GST law has to be passed in state assemblies. Legal committee will finalise it in next three days and circulate to states added Jaitley.
Earlier the council had to meet on Sunday as well but now the next meet is scheduled on March 14 & 15.