GST: Jaitley's deliberations with state FMs to continue today

December 03, 2016 10:05

After consensus eluded on the model GST law on Day 1 of its meeting, the all-powerful GST Council will deliberate again today on the issue and also try to resolve the contentious point of dual control of assessees under the new indirect tax regime.

The fifth meeting of the Goods and Services Tax Council, headed by Union Finance Minister Arun Jaitley and comprising state finance ministers, will also deliberate on impact of demonetisation on revenue.

The Centre plans to implement the GST from April 1. Due to Constitutional compulsion, the GST has to be rolled out by September 16 next year as the existing indirect taxes will come to an end, and it would not be possible for either Centre or the states to collect indirect taxes.

Some state finance minister exuded confidence that it was still possible to implement GST from April 1, 2017, though the Centre is running on a tight time schedule.

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