Pinning hopes on quick resolution of the difficult issue of tax jurisdiction with states, Finance Minister Arun Jaitley has said that the Goods and Services Tax (GST) regime will be rolled out from April next year.
“Implementation of GST is bounded by a calendar deadline as the Constitutional Amendment provides that the existing indirect tax regime can continue only till 16th of September next year,” Jaitley said her on Wednesday while addressing the valedictory ceremony of Petrotech 2016.
Jaitley further said that the Centre and states are working out the mode of tax administration under which a tax payer would be assessed only once and that assessment has to be accepted by both the taxing authorities.
As per the GST Constitution Amendment Bill, which was notified on September 17 this year, the government is required to complete the process of implementation of GST within a year.
The GST Council, which has Union Finance Minister and State representatives as members, met last weekend to discuss the tax jurisdiction, the model GST law, Integrated GST (IGST) law and compensation law.
The Council will now meet on December 11 and 12 to pave the way for introduction of GST legislations in the ongoing Winter Session of Parliament, which ends on December 16.
