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GST Implementation Window Only From 1 April To 16 September: Arun Jaitley
Finance Minister Arun Jaitley (NARINDER NANU/AFP/Getty Images)
Finance Minister Arun Jaitley on Saturday said that the Goods and Services Tax (GST) regime needs to be implemented between 1 April and 16 September, 2017, due to constitutional compulsions.
"The range of timing when GST has to come into force is between 1 April and 16 September, 2017 due to constitutional necessity. Nobody has the luxury of time," Jaitley said in his address at the 89th annual general meeting of Federation of Indian Chambers of Commerce and Industry (FICCI).
The Constitution (One Hundred and First Amendment) Act, 2016 was notified on 16 September for GST come into force within a period of one year. The Finance Minister said that the Central GST, Integrated GST and state compensation matter for revenue losses bills are currently in the process of getting drafted, which needs to be passed by the Parliament.
Jaitley said that the crucial issue of dual control or who will exercise control over GST assessees - the Centre or the states - still needs to be resolved in the Council but assured that each assessee will be assessed only once.
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