New Delhi: A day after the Goods and Services (GST) Bill was passed in Rajya Sabha with over 2/3 majority, Finance Minister Arun Jaitley on Thursday held a press conference and said, “Yesterday a very major step forward has been taken in direction of having a uniform tax in the country.”
“I am sure once GST is rolled out, doing business in India would be easier, would help a large body of traders and business people,” Jaitley said.
Addressing the media, Finance Minister Jaitley further said, “The constitutional amendment was pending for a long time, predominantly because Rajya Sabha which was not able to reach a consensus. Most important thing is that it was passed with unanimity, except for the AIADMK who walked out. We rarely saw a situation where there was a sense of public anxiety over the delay of a Bill.”
Revenue Secretary Hasmukh Adhia, who was also present in the conference, said, “The roll out target date for the GST is April 1, 2017.”
“After rolling out of GST, prices of some goods and commodities may come down. By December 2016, all back-end and front-end IT systems are expected to be ready; followed by testing,” Finance Minister added.
Earlier yesterday, during the monsoon session of Parliament, Congress including the other major political parties supported the GST and the bill was finally passed in Parliament.