Mr Shri Arun Jaitley, India’s Finance Minister has stated that the Indian Government is currently working towards a target deadline of April 1st 2017 for the effective implementation of Goods and Services Tax (GST).
The Finance Minister stated that the introduction should be fully established by the 16th of September 2017, one year after the amendment to the provisions of the Constitution Act 2016 was brought into power. This Constitution authorises the Indian Government to impose excise duty on the manufacturing of goods, including a type of service tax for the supply of services.
Mr Jaitley also added that the Constitution Amendment Act grants the Government power to charge Value Added Tax (VAT) (or sales tax) on the sale of goods until then. He assured that until now, the Indian Government has been meticulously following the rule book for the implementation of goods & services tax.