GST receipt estimates not to be part of FY17's Budget estimate

April 1 deadline for implementing the goods and services tax looks unlikely

Estimates of goods and services tax (GST) receipts will not be a part of the Budget estimates for the financial year 2017-18, instead, the estimates for the receipts will become part of the revised estimates, say officials who have knowledge of the matter.

Instead, because the April 1 deadline for implementing the GST looks to be unlikely, the finance ministry will likely give the estimates of receipts of excise and service tax for the financial year 2017-18.

“With uncertainty over April 1 deadline for GST, we will continue with giving estimates for excise and service tax in 2017-18 Budget. Earlier, when the dummy exercise of Budget was being undertaken, we had kept a separate column for GST estimate but now with the matter stuck in GST Council, we will continue with the existing system of estimates for indirect taxes,” a government official said, reported The Indian Express.