GST to be introduced from 1st April: Nirmala Sitaraman

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Nirmala Sitaraman, Union minister for commerce and industry declared that Goods and Services Tax (GST) will be implemented across the country from April 1, 2017.

Minister was speaking in BJP’s state level executive meet organized in Belagavi on Monday. She said before implementing the one country one tax, GST Council has to be constituted to decide rate of tax and arbitration. In GST council, states will have 2/3 right while 1/3 right to the centre.

Once the GST implemented, tax procedure will be hassle free, transparent and less burdening because it stops overlapping of taxes. More significant will be control on black money generation, as every trader will have unique number linked with PAN card. Sitaraman declined the rumours that implementation of GST leads to fall in GDP. “It’s a false notion. If the GST is implemented, GDP growth will jump from 1% to 1.5%”, minister said.

Minister denied allegations of the Congress that BJP did not cooperate UPA-1 and UPA-2 tenure to pass GST Bill. It’s a failure of Congress that unable to gather consensus between different political parties”, Sitaraman alleged.

Read more at: http://timesofindia.indiatimes.com/business/india-business/GST-to-be-introduced-from-1st-April-Nirmala-Sitaraman/articleshow/54663223.cms