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GST rollout from July 1; Govt scotches rumours of deferment

Press Trust of India  |  New Delhi 

The Goods and Services (GST) - the nation's biggest reform since independence -- is on track for scheduled implementation from July 1, a top official said today, scotching rumours of a delay.

"The rumours about implementation being delayed are false. Please do not be misled by it," Secretary Hasmukh Adhia said in a Twitter post today.

The -- a unified structure across a wide range of goods and services that will replace various taxes levied by the Centre and state governments -- is scheduled for rollout from July 1.

The ministry in a statement said preparations are in full swing for a smooth implementation from the scheduled date.

"The of has emphasised that is scheduled to roll out on July 1, 2017. The (CBEC), in coordination with the state governments, have increased their outreach programmes so as to reach the last trader," it said in a statement.

The statement came amid murmurs about the IT network's inadequate preparedness to handle a massive 300 crore invoices that would be generated per month and could face teething problems.

Some industry groups too want some more time to change to the new system of filing

The Centre-State panel, called the Council, has fitted over 1,200 goods and an array of services in the four- tier slabs of 5, 12, 18 and 28 per cent and is adjusting demands for change.

The Council will probably hold its last meeting on June 18 and any change in implementation schedule would have to be approved at the meeting.

is expected to simplify the collection procedure, making it easier to administer and enforce, as well as help remove double taxation at various levels.

is estimated to add 2 to 4 percentage points to the GDP.

After the last meeting of Council on Sunday, Jaitley had said the Centre and states have completed discussion on most of the issues.

"Irrespective of the date in which it starts, some people will say they are not ready, so they have no option but to get ready... You require an honest intent for that," he had said, to a query that small traders and artisans were not technologically ready for meeting compliance.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 13 2017. 20:28 IST