Govt to announce GST roadmap on Thursday

RSTV Bureau
Finance Minister Arun Jaitley in the Rajya Sabha on Wednesday.

Finance Minister Arun Jaitley in the Rajya Sabha on Wednesday.

With Rajya Sabha approving the long-delayed GST bill, the government will Thursday announce the roadmap for implementation of a common goods and services tax across the country.

Revenue Secretary Hasmukh Adhai said “It is only end of a beginning. The real work starts now. We will announce implementation roadmap tomorrow.”

Stating that work has to be on war footing from now on, he said, “We want to implement it as soon as possible.”

In the biggest tax reform since Independence, the national sales tax or GST Bill was today approved by the Rajya Sabha to replace a raft of different state and local taxes with a single unified value added tax system to turn the country into the world’s biggest single market.

The 66-year-old Constitution, which gives power to Centre to levy taxes like excise, and empowers states to collect retail sales taxes, was amended though the 122nd Constitution Amendment Bill.

The legislation was approved by the Upper House with 203 votes in favour and none against, after a seven-hour debate.