BusinessGST, India's Biggest Tax Reform, Now Closer To July Rollout
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GST, India's Biggest Tax Reform, Now Closer To July Rollout
Rajya Sabha yesterday passed all four bills clearing path for GST rollout
Government has set July 1 as the launch date of GST
Now, state assemblies must approve a fifth bill for enabling GST rollout
Finance Minister Arun Jaitley has set July 1 as the launch date of GST.
New Delhi: India's marathon to overhaul its indirect taxes entered the last lap on Thursday after the Rajya Sabha approved key legislations, paving the way for the rollout of a nationwide goods and services tax (GST) as early as July.
The GST is one of the most significant reforms since India opened its economy in the early 1990s that will harmonise a mosaic of state and central levies into a national sales tax.
Hailed as the bigge...