Express Adda: The way ahead for GST

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Published: September 3, 2016 6:28:20 AM

With the Rajasthan and Pondichery assemblies on Friday ratifying it , the GST constitutional amendment Bill has got the support of 18 of the country’s 31 states/UTs with assemblies.

With the Rajasthan and Pondichery assemblies on Friday ratifying it , the GST constitutional amendment Bill has got the support of 18 of the country’s 31 states/UTs with assemblies. A day ago, Odisha had became the 16th state to approve the Bill, making it eligible for President’s assent ( Parliament had passed it on August 8 in the required manner). With states endorsing the Bill even before the Centre’s deadline (September 8), if businesses get ready, the April 2017 date for the new indirect tax system could be met.

Legislative steps

President signs the Constitutional Bill into law: In a week

Cabinet nod for GST Council: by September 15

Council’s vetting of model GST laws: Before November

Passage of CGST, I-GST by Parliament, SGST by state assemblies: By December

Notification of GST rules: January 2017

Pan-India GST roll-out: April 1, 2017

I-T backbone

Back-end systems for CBEC, RBI, banks and 14 states:  November 2016

Front-end and back-end processes for another 17 states: December 2016

Testing and integration of GSTN front-end and back-end: January-March 2017

Challenges

The revenue base of C-GST and S-GST

The rate structure

Estimation of compensation to states

List of exemptions

Consensus on Model GST Bill

Threshold limits for levying the tax

Cross-empowerment to mitigate ill effects of dual control

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