“The rumours about GST implementation being delayed are false. Please do not be misled by it.” -said by Revenue Secretary of Ministry of Finance Dr. Hasmukh Adhia.
A currently circulating story of delay in implementing GST is dismissed now by a tweet. Dr. Hasmukh Adhia put out a tweet amidst rumors that GST will not be implemented on 1st July.
“Rumour that GST rollout may be delayed to September:
The final of the proposed unified indirect tax could get stretched with the government seriously looking at shifting the date of the new tax going live from July 1 to September 1. This could be done to give industry more time to prepare for the new indirect tax regime and for further fine-tuning the GST bills.”
Finance Minister recently said that there was no scope of delaying the 1st July deadline. The new tax regime is set to be rolled out on 1st July. Thus, there is no scope of rethinking as clarified on Twitter, assuring that the new tax regime will be rolled out on 1st July, 2017, as stated by the Government. Dr. Adhia, thus, dismissing speculation about the postponement of GST implementation. Speculation were in vogue that the date of implementation will be pushed to September as some states cited logistical concern.
“I think we are in a state of readiness.” -said by Jaitley. Finance Minister Arun Jaitley also recently said that there was no scope for rethinking the July 1 deadline. Some states had been calling for the date to be pushed to September citing logistical concerns. And then speculations were rife. Revenue secretary Hasmukh Adhia denied rumours and urged businesses not to be misled by false rumours. The government has time and again reiterated its position that there will be no change in deadline for the rollout of the biggest indirect tax reform on 1 July, 2017.
So India’s tax migration will not be delayed. Business have to migrate to a GST registration from old tax registration forms. The enrollment window, which was suspended on 30th April, has been reopened from 1st June to 15th June. Migrating to a unique and customized GST regime is nothing less than historic.
- GST, India’s most significant tax reform,
- collapses the wide array of indirect taxes into a few levies,
- while expanding the tax base.
- It has been 15 years in the making since it was first proposed in 2002 and required amendments to the Constitution.
The Council has till now fixed rates of more than 1200 goods and 500 services.
- Within weeks of the all-powerful GST Council fitting over 1,200 items into one of the 5, 12, 18 and 28 per cent tax slabs,
- there were complaints from various quarters about high tax incidence on various goods and services.
- The GST Council, which met for the 16th time on Sunday,
- took up demands for revision in tax rates of 133 items but reduced it only for 66.
- The GST Council had on June 12 slashed the rates of 66 items
- to meet demands from various quarters ahead of the rollout.
- The Finance Minister Arun Jaitley-headed GST Council will again meet on June 18
- to take stock of the preparedness of the new tax system that promises to stitch together a common national market.
It looks increasingly certain now that the rollout date will be adhered to, with the weight of the Finance Ministry and most states behind it.