GST TO BE ROLLED OUT FROM APRIL-2016

India’s biggest tax reform initiative — Goods and Services Tax (GST) — has entered the final leg of implementation with the government planning to announce a roadmap to roll out the new indirect tax regime by April 2016.

The Centre plans to introduce the Constitution Amendment Bill in the Winter Session of Parliament in December. States also want an independent compensation mechanism to be incorporated in the Constitution Amendment Bill and are also seeking for petroleum and liquor to be kept outside the ambit of GST.

The Centre is hoping that a robust country-wide IT network and infrastructure to make the implementation seamless across state boundaries will be ready by April 2016.