Presenting the Union Budget 2017, Jaitley said the government was ready for the implementation of the GST.
The finance minister, however, did not spell out any likely date for implementation of the new tax regime.
“GST Council has finalised recommendations on all issues, the preparedness of IT is on schedule. On April 1, the reaching out to the industry will begin to make them aware of the new tax system, as per schedule,” the finance minister said.
“Preparatory work on GST is top priority of the government. Several teams of the Centre and states are working towards it,” he added.
Jaitley refrained from making too many changes in the excise and customs as they would soon be replaced by the GST.
He further said the implementation of GST will bring in increased revenues to the Centre and states and spur competitiveness.