Hope to take GST legislations to Parliament this session: FM

February 03, 2017 19:11

Keen to rollout the Goods and Services Tax by July, the government plans to take the supporting legislations to Parliament next month, Finance Minister Arun Jaitley said today.

While the all-powerful GST Council has already decided on a four-slab tax structure for the indirect tax regime, the levy for different goods and services will be decided by May or June.

Jaitley said he hopes to get Central GST and Integrated GST draft legislations approved at the next GST Council meeting on February 18 and bring them in the second half of ongoing Budget Session. It will reconvene on

March 9 after a month long break and continue till April 12.

"Now the main policy issues (with regard to CGST and IGST) over 9 meetings have been put to rest. Final drafts are now being prepared and once they are circulated with the legally vetted language, those drafts will have to then go to Parliament and state legislature (for SGST) for approval.

"We will meet on 18th of this month. Hopefully, my target currently is to finalise those drafts and take them in the second part of the budget session in Parliament," Jaitley said at a post-Budget meet with industry chambers.

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