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BUDGET-2017 AND GST EXPECTATIONS

Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 14-1-2017 Last Replied Date:- 18-1-2017 - While the Government still claims that it is actively working to see GST roll out from April, 2017, much would depend upon next week's GST Council meeting. States have indicated that it could be doable from any time between June and September, 2017. Finance Minister has once again affirmed in ongoing Vibrant Gujarat Summit that GST could be introduced in April, 2017. Gujarat may be one .....

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l last day of February and that Goods and Services Tax (GST) may not be introduced in April, 2017, everybody is guessing as to what will Budget have in store on Indirect Taxes. GST enrolment drive is ongoing since November, 2016 despite the fact that we do not have GST laws in place. More than 50 percent of existing VAT assessees have migrated and enrolled on GSTN system despite the uncertainty over the GST rollout. GSTN which stands for the platform and the body administrating it, is in the pro .....

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ues to centre as compared to GST regime where rate is likely to be lower for some select services. We can look for the following in Budget- 2017: Clear road map and Government's irrevocable intention on GST implementation A forward looking statement on demonetization effect and way forward Black money management and Government's road map to have black money / corruption free economy Moving forward on path of cash less or less cash economy Big push to infrastructure and developmental init .....

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