Home / Knowledge / News / Textiles / GST rollout from July 1; states to control small taxpayers
GST rollout from July 1; states to control small taxpayers
Jan '17
The Centre and states have reached a consensus on the issue of dual control over assessees in the ninth Goods and Services Tax (GST) Council meeting by agreeing to let states control a majority of the small taxpayers. States will assess 90 per cent of taxpayers with a turnover of below Rs 1.5 crore. The Council also decided to push its rollout date to July 1.

Splitting of taxpayers between the Centre and the states will be carried out horizontally and 10 per cent of the assessees with annual turnovers of below Rs 1.5 crore will come under the Centre. The taxpayers with an annual turnover of more than Rs 1.5 crore will be shared by the two entities in 50:50 ratio.

Union finance minister Arun Jaitley said that each taxpayer will be assessed by any one authority only once.

The issue pertaining to coastal states’ demand to control economic activities within 12 nautical miles has also been resolved, with Centre agreeing to give up the control of the high seas.

The Council finalised the draft supporting law at the meeting held on January 16. However, the drafts of Integrated GST (IGST), Central GST (CGST) and State GST (SGST) will be finalised in the next meeting that will take place on February 18. Following this, the Council will decide the tax slabs for taxing various goods and services.

Jaitley said that July 1 will be the realistic date for implementing the GST bill. He also added that the bill need not be implemented from the beginning of the financial year as this tax will be levied only when a sale is carried out. (KD)

Fibre2Fashion News Desk – India

Interviews View All

Hannah Lane, Redress

Hannah Lane

Encouragement from brands will motivate supply chains to become more...

Amit Jain, Shingora Textiles Ltd

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Nuno Venda, ROQ

Nuno Venda

‘There has been an increase in demand for water based inks, rather than...

Hans Gerhard Wroblowski,

Hans Gerhard Wroblowski

Germany's Monforts is a leading manufacturer and exporter of textile...

Eric Fessler,

Eric Fessler

Manufacturer of textile machinery and complete fibre-to-yarn lines, N...

Henk-Jan Rohaan,

Henk-Jan Rohaan

The custom-built machineries of Brugman Holland are known for reliability, ...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

November 2019

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

Follow us on instagram


Follow Fibre2Fashion On

Advanced Search