New Delhi: Targeting to roll out the ambitious Goods & Services Tax (GST) on April 1 next year, Prime Minister Narendra Modi has directed that all steps required in this direction should be completed before that date.
He has also said that GST Council would need to have intensive meetings to be able to make timely recommendations relating to its mandate, including proposals relating to Model GST laws, GST rates, goods and services that may be subjected to or exempted from GST.
The directive and the observation came at a meeting Modi chaired here yesterday to review the preparedness for rollout for GST and to ensure that there is no slippage on the date of its implementation from April 1, 2017,
The meeting was attended by Finance Minister Arun Jaitley and senior officials of the Prime Ministers Office and Finance Ministry.
"The Prime Minister reviewed the progress made on various steps needed for the rollout of GST relating to preparation of Model GST laws and rules to be framed, establishment of IT infrastructure for both Centre and States, training of officers of Central and State Governments and outreach for awareness of trade and industry," said a PMO statement issued today.
"The Prime Minister directed that all steps must be completed much before 1st April, 2017," it said.
The government is keen to implement the biggest tax reform since Independence from April 1 so as to ensure a smooth rollover to the changed tax structure from the beginning of the new fiscal and avoid mid-year alterations.
The first meeting of the GST Council, which will be headed by Finance Minister, will be held on September 22-23, and the panel is to give its recommendations on the tax rate and other provisions within 60 days.