Government is working on a target date of Apr 1 for the roll out of GST: Arun Jaitley
He said that till Sept 16, 2017, that is one year after the provisions of the Constitution (101st Amendment) Act, 2016 being brought into force, the Constitution empowers the Central Government to levy excise duty on manufacturing; and service tax on the supply of services.
The Finance Minister said that similarly the Constitution Amendment Act empowers the State Governments to levy sales tax or Value Added Tax (VAT) on the sale of goods till that time.
Jaitley said that so far the Government is following the road map for implementation of GST as per the schedule.
Jaitley was making his Opening Remarks at the Fourth Meeting of the Parliamentary Consultative Committee attached to the Ministry of Finance held here.
The subject of today’s Meeting was the Goods and Services Tax (GST)
Jaitley further said that the First Meeting of the GST Council was held in a very cordial and constructive environment earlier this month and today, he will hold the Second Meeting of the GST Council.
In the GST regime, the GST Council has been created under Article 279A of the Constitution. The GST Council is a joint forum of the Centre and the States.
The Council will take decisions on important issues like tax rates, exemption list and threshold limits etc.
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