With Centre and State unable to finalise various aspects of GST Law and compensation formula, GST Council meeting to be held on 25th November 2016 has been cancelled. It will now take place on 2nd and 3rd December 2016.
The officers’ committee of both the Centre and states, however, will meet on November 25 to finalise the three draft legislations — CGST, IGST and compensation law. These will be placed in public domain for stakeholders’ comments.
Sources suggest that despite delay in finalisation, Centre is on track to introduce the legislations in the ongoing Winter session of Parliament, which ends on December 16.