Goods and Services Tax – GST – Dated:- 29-6-2017 – New Delhi, Jun 28 (PTI) Finance Minister Arun Jaitley today rejected demands for deferring the Goods and Services Tax (GST) rollout saying the Constitution does not give luxury to delay the nation's biggest economic reform by six months. Not ruling out a few initial glitches when more than a dozen state and central taxes are abolished and barriers between 29 states done away with, Jaitley said the system is fully geared up and will eventually smoothen itself out. While there have been sporadic protests in some cities against implementing the GST without giving businesses more time to prepare, Trinamool Congress has decided not to attend the gala event planned in Central Hall of Parliam
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
ax structure by the GST. In absence of the GST, there will be a constitutional crisis as no tax can be levied on goods and services. More importantly there is a constitutional mandate, and the mandate is on September 15 you will lose your right to collect existing taxes. So, therefore, the alternate system has to come in place and hopefully, by that date the (GST) system will come into place in a more smooth manner, he said. The GST Constitutional Amendment Bill provides for roll out of the Goods and Services Tax by September 15, failing which the government will lose its legal entitlement to collect taxes. Jaitley said the government has been successful in taking every decision on the GST through consensus, the constitutional amendment bil
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
e to implement it will lead to adverse impact of price rise and put local industry at a disadvantage. The same product is going to be cheaper in other parts of the country than in that state. So it is in the interest of consumers, citizens of the state to join the GST, Jaitley said. Asked if there is a rethink on the tax rates as demanded by sectors like textiles, he said the GST Council is always working with an open mind. …If you see great force in some argument, the Council has always shown its openness. No one Central or state government can decide this. It is collectively decided by all of us. So far, every decision has been merit based. It is neither being partisan, nor being dictated by any form of pressure, Jaitley said. Over the
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =