In a communication to top officials, Chairman of Central Board of Excise and Customs Najib Shah said preparations for introducing GST from the beginning of the next fiscal year are in full swing with the present focus on timely finalisation of its legal and administrative framework.
Expressing gratitude to all parties for support, Prime Minister Narendra Modi on Monday described GST as a "crucial step" towards ending tax terrorism besides reducing corruption and black money and said the new regime of indirect taxation will make consumer the "king".
Terming the Cabinet reshuffle as a "non-event" for markets, Singaporean brokerage DBS said the key factor to watch out for is the progress of Monsoon Session of Parliament and if the government is able to make some headway on getting the GST bill passed
Finance Minister Arun Jaitley says India has the potential to achieve higher than 7-7.5% growth rate.