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GST scheduled for July 1 rollout: Jaitley

Goods and Services Tax - GST - Dated:- 8-5-2017 - Tokyo, May 8 (PTI) The Goods and Services Tax (GST) is on schedule for implementation from July 1 and will not lead to any significant increase in prices of goods although cost of some services may se .....

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it easier to do business in the country. Addressing CII-Kotak investors' round table here, Jaitley said that the GST Council, headed by him and comprising representatives of all states, will in the next few days finalise the rates of tax for dif .....

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with multiple authorities. The whole country was divided into multiple markets. So a free movement of goods and services was not possible. Now, the idea of GST was that let there be just one tax in the country, Jaitley said. He added that tax rates o .....

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erent commodities and services in the decided tax brackets. Demerit and luxury goods will attract the peak tax rate plus a cess. Tax rate closed to the existing incidence of total central and state levies will be chosen as the slab for a good or serv .....

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obviously, they will go up marginally and therefore, there will be some impact on this. So, goods and services may react a little differently, Jaitley said. Asked if GST would stoke inflation, he said: I don't anticipate this to happen significan .....

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was amended by Parliament and supporting legislations passed, state legislatures are approving the respective State GST law. Currently, that process is on. I see no difficulty in it, he said adding GST rules have been framed and tax rates will be fix .....

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be introduced in the country which itself would ease the very processes of doing business, he said. At the investors' meet, he said there would be no cascading impact of tax on tax under GST. GST being a more efficient tax, evasion will become di .....

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