Cabinet clears GST Council: The fire test on final rate begins now

The Cabinet’s approval on Monday to set up the GST (Goods and Services Tax) Council, after the President’s approval for the constitutional amendment last week, marks the beginning of the toughest phase in the road to final implementation. The government has set a deadline of 1 April 2017 for the rollout of the indirect tax reform.

This is the council which will have to do the complex job of arriving at a consensus GST standard rate, for which there is no real consensus between states, central government and Congress-led opposition parties till this point.

Source:-firstpost

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