GST coming on July 1, businesses should not bank on any delay: Revenue secy

Revenue secy Hasmukh Adhia also said that going forward the GST rates could come down

The Goods and Services Tax (GST) regime will be launched as planned on July 1 to boost economic growth and state revenues, a finance ministry official said on Wednesday, despite calls from some businesses for a delay.

The central and state governments were ready to roll out the GST, said Revenue Secretary Hasmukh Adhia, adding that firms should not count on a postponement of a tax more than a decade in the making.

India's most ambitious tax reform since independence would transform its $2 trillion economy and market of 1.3 billion people into a single economic zone with common indirect taxes —