Home / Knowledge / News / Textiles / Centre still aims to roll out GST from April 1: Jaitley
Centre still aims to roll out GST from April 1: Jaitley
12
Jan '17

The Centre still aims to introduce the Goods and Services Tax (GST) bill on its previously targeted date of April 1, 2017, provided the pending issues related to the tax regime are sorted out, said finance minister Arun Jaitley. GST needs to be rolled out by September as some of the Constitutional Amendments passed by Parliament for the bill will expire by then.

The government wants to implement GST in April, but it is a necessity to roll it out on or before September 16, said Jaitley at the Vibrant Gujarat Global Summit that is currently underway in Gandhinagar.

However, the Centre and states are yet to reach a consensus regarding the issue of administrative control over assessees. Also pending is a decision over the issue of compensating the states for the loss of revenue following the implementation of the bill. The finance minister hopes that these issues will be resolved at the GST Council meeting on January 16.

Digitisation and GST will together boost the growth of the country's economy and result in a cleaner GDP as well as the expansion of the formal economy, Jaitley said. The single tax structure of GST in India will make it easier for prospective investors to do business in India and help government to deal with tax evasion, he added. (KD)

Fibre2Fashion News Desk – India


Interviews View All

Divyesh Mashruwala, Akshar Industries

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Textile industry, Head honchos

Textile industry
Head honchos

Quality should be the #1 priority

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli, Epson, For.Tex & F.lli Robustelli

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Apurva Kothari,

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Dejan Lalevic,

Dejan Lalevic

Mesdan SPA, a subsidiary of Italian firm Savio Macchine Tessili,...

Madhu Sudhan Bhageria,

Madhu Sudhan Bhageria

Incorporated in August 1990, Filatex India Ltd manufactures manmade...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search