GST implementation from April 2016 feasible: Official


New Delhi, Sep 20 (IANS): The implementation of goods and services tax (GST) from April 1, 2016, could be feasible and depends on how fast pending issues are resolved, Revenue Secretary Sakti Kanta Das said Saturday.

"The deadline for actual implementation of GST from April 1, 2016, would be feasible. It all depends on how quickly we are able to reach consensus on critical issues," he said at an event here.

The implementation of GST, which aims subsuming most of the indirect taxes in the central and state levels, at has been pending since 2006, with states proposing to keep some items like petroleum, tobacco and alcohol out of its ambit.

"The discussions are at a very critical stage and we hope to make very good progress. We are quite optimistic we will be able to reach convergence in the coming weeks or months," Das said.

On the compensation front, the states have sought a five year compensation mechanism from the central government.

There are four to five issues with the states that are outstanding, Das said, adding that there were discussions on each in the recent weeks.

"We hope and we are quite optimistic that we will be able to resolve in the coming months, which will enable the government to introduce the constitutional amendments in parliament," he added.

  

Top Stories


Leave a Comment

Title: GST implementation from April 2016 feasible: Official



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.