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The government is working working towards implementing the Goods and Service tax by its deadline of April 1, 2016, Minister of State for Finance Jayant Sinha said on Monday, adding that he hoped that the constitutional amendment bill for the same will be passed in the winter session of Parliament.
"With respect to GST we are working on entire process of implimenting GST. There are some challenges associated with that. The first one is that it has to be revenue neutral and states want control on certain goods like petroleum and liquor. There has been a lot of discussion about petroleum products as part of GST. That is one issue we are working through what's in what's out and how to reconsider all of that, so that it is revenue-neutral for the states," Sinha said at an event in New Delhi.
"Second important factor is change to the constitution,which means the legislative process is complicated. We need to get the constitution amendment passed which we hope to do in winter session of parliament ... We are working very hard and hope dispute these challenges that we will be able to implement GST by April 1 , 2016," Sinha added.
