Moneycontrol
Jun 13, 2017 05:33 PM IST | Source: Moneycontrol.com

Revenue Secretary Hasmukh Adhia dismisses talk of GST rollout being delayed

The Revenue Secretary put out a tweet on Tuesday amid rumours that GST will not be implemented on July 1.

Revenue Secretary Hasmukh Adhia on Tuesday sought to dismiss speculation that the implementation of the Goods and Services Tax (GST) regime will be delayed.

Adhia put out a tweet on Tuesday morning in this regard.

The new tax regime is set to be rolled out on July 1. Some states had been calling for the date to be pushed to September citing logistical concerns.

Finance Minister Arun Jaitley also recently said that there was no scope for rethinking the July 1 deadline.

"I think we are in a state of readiness," Jaitley told CNBC-TV18. "Minister after minister has met me from the states and said do not blink, stick to July 1."

The Goods and Services Tax (GST) Council on Sunday reduced tax rates on 66 items including ketchup, instant food mixes, pickles, tractor components, computer printers and insulin as the Centre and the states sought to iron out rough edges ahead of GST’s roll out from July 1.

The Finance Minister Arun Jaitley-headed GST Council will again meet on June 18 to take stock of the preparedness of the new tax system that promises to stitch together a common national market.

The Council has till now fixed rates of more than 1200 goods and 500 services.

The new tax structure will have four broad slab structure — 5, 12, 18 and 28 percent — along with a cess on luxury and demerit goods such as tobacco, pan masala and aerated drinks. Services will also have these four tax slab structure. Most services, except those in the negative list of essential services such as healthcare and education, will come under GST.
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