Goods & Services Tax (GST) in IndiaFinalisation of GST Rules by March 2017

February 4, 20170
Finalisation of GST Rules by March 2017
As per Hasmukh Adhia,Revenue Secretary, the Goods and Services Tax (GST) laws i.e CGST, SGST & IGST Acts and GST Rules will be finalised by the end of March2017.
GST Rules
GST Rules
The draft GST Rules wil be also put in public domain for suggestions from trade and experts .
However,GST rates with respect to the classification of various goods and services shall be decided latest by  June,2017.
Whereas, as per Arun Jaitley,Finance Minister, the draft bills on GST enactments shall be introduced in the floor of Parliament during Budget Session only.
It is pertinent to note that after 9 meetings of GST Council , the following could be finalised :
a.the tax rates,
b.threshold exemption,
c.compensation to the states,
d.sharing of assessee’s between state with respect to monteray limits i.e  below Rs 1.5 Cr & Above
e.draft laws and
f. administrative mechanism.
The new realistic deadline and target of implementation of GST has been set up as 1st July, 2017.

Leave a Reply

Your email address will not be published. Required fields are marked *

Current day month ye@r *

© 2020-21 AMLEGALS Law Firm in Ahmedabad, Mumbai, Kolkata, New Delhi, Bengaluru for IBC, GST, Arbitration, Contract, Due Diligence, Corporate Laws, IPR, White Collar Crime, Litigation & Startup Advisory, Legal Advisory.


Disclaimer & Confirmation As per the rules of the Bar Council of India, law firms are not permitted to solicit work and advertise. By clicking on the “I AGREE” button below, user acknowledges the following:
    • there has been no advertisements, personal communication, solicitation, invitation or inducement of any sort whatsoever from us or any of our members to solicit any work through this website;
    • user wishes to gain more information about AMLEGALS and its attorneys for his/her own information and use;
  • the information about us is provided to the user on his/her specific request and any information obtained or materials downloaded from this website is completely at their own volition and any transmission, receipt or use of this site does not create any lawyer-client relationship; and that
  • We are not responsible for any reliance that a user places on such information and shall not be liable for any loss or damage caused due to any inaccuracy in or exclusion of any information, or its interpretation thereof.
However, the user is advised to confirm the veracity of the same from independent and expert sources.