“GST should be implemented by July 1. All states have agreed (on the date),” Das told reporters in New Delhi.
The government plans to get the GST Council’s approval on iGST (integrated GST), cGST (central GST) and sGST (state GST) drafts at its March 4-5 meeting before the second half of the budget session of Parliament begins on March 9.
The draft laws passed by the Council will have to be passed by Parliament. Simultaneously, sGST will have to be passed by state legislatures.
The four bills form the enabling laws under the GST constitutional amendment.
Another step remaining is to slot all the commodities under the GST tax slabs: 5 per cent, 12 per cent, 18 per cent and 28 per cent.
Each item has to be fitted under a particular slab. After the March 4-5 meeting, GST officers will do the slotting.
Business Standard, 28 February 2017
