With GST council failing to close on issues of dual control and IGST Laws in its recently concluded meeting, the chances of government meeting April deadline are appearing bleak than ever.
Government has already lost opportunity to present GST Laws in parliament in winter session owing to lack of consensus. Therefore, any further delay in forming consensus would, in all likelihood, confirm delay in GST roll out.
“I am trying my best to do that… left to myself I would like to do that,” Finance Minister Arun Jaitley said when asked if the April 1 deadline can be met.
He added “That we will decide once we cross all bridges. I am not going to bind myself… our effort is to clear it as quickly as possible. I think we are making a reasonable headway.”
Experts believe that delay in GST roll out could be a positive thing for industry as it would give then additional time to prepare for the landmark reform.
On the dual control, Jaitley said “There is only one law and two bureaucracies, so the question is how the jurisdiction will be divided for audit management”