Government Issues Notification, Countdown Begins for GST Rollout
Government has notified roll out of Goods and Services Tax (GST) from 1st of next month, the GST will subsume a host of indirect levies like excise, service tax and VAT.
A special programme will be held in Central Hall of Parliament tomorrow midnight for the launch of new indirect tax regime. President Pranab Mukherjee, Prime Minister Narendra Modi, Finance Minister Arun Jaitley and a host of Senior Ministers and bureaucrats will attend the programme.
A mega rehearsal was conducted last night in the Central Hall of Parliament ahead of the historic launch of GST. Official sources said, the mock drill was conducted around 10 pm to ensure that all things were in place during the main event.
Earlier, talking to reporters in New Delhi, Mr Jaitley said, the Constitution does not give luxury to delay the nation's biggest economic reform by six months. He said deferring GST is a constitutionally impossible thing.
Finance Minister said, the date of GST implementation, rules and tax rates had been decided through a consensus by the GST Council.
He said, the Constitutional amendment approved by Parliament last year gave time only till 15th of September, 2017 to replace the existing indirect tax structure by the GST.
The minister said, in absence of the GST, there will be a constitutional crisis as no tax can be levied on goods and services.