Business Other News 13 Sep 2016 Centre sets up GST C ...

Centre sets up GST Council

DECCAN CHRONICLE.
Published Sep 13, 2016, 12:51 am IST
Updated Sep 13, 2016, 1:02 am IST
Mr Jaitley has decided to call the first meeting of the GST Council on 22nd and 23rd September in the national capital.
Finance Minister Arun Jaitley
 Finance Minister Arun Jaitley

New Delhi: Moving fast to roll out GST in the country, Union Cabinet on Monday approved creation of GST Council and its secretariat which will now thrash out crucial issues required for its implementation including tax rate and products and services that may be subjected or exempted from it.

GST Council which will be a joint forum of the Centre and the States, will have Union finance minister Arun Jaitley as the chairperson and nominated minister by each State government as its member.

 

Mr Jaitley has decided to call the first meeting of the GST Council on 22nd and 23rd September in  the national capital. Centre is looking to introduce Central GST and Integrated GST bills in the Winter session of the Parliament in November.

Revenue secretary Hasmukh Adhia said the government is running ahead of schedule on GST roll out and is all geared up to meet the April 1, 2017 deadline.

“Now it is for the GST Council to thrash out all the issues within the time limit of two months. We have set a time limit of two months for discussion and final decision on all the major aspects. Now whether that’s going to be feasible, that we have to watch and see,” he said.

 

Secretary said that September 22 to November 22 should be a reasonable time limit for discussing and thrashing out all major issues concerning GST.

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