The government will present the Union Budget 2017-18 on February 1 for the financial year starting on April 1. As per Sources, FM Arun Jaitley is expected to announce revised GST rollout timeline on Budget day (February 1). This should rest the speculation over GST rollout date – June, July or September.
While the backend preparation for rollout is almost done, major issues like dual control, compensation are keeping GST waiting.
“We are ready with the necessary backbone and ground work, as soon as the issues are resolved and Parliament approves the remaining bills, we will go ahead with GST,” a senior government official said.
Budget speech shall also carry estimates of Indirect tax collections. Experts believe that FM must carefully do the calculation relating to collection figures (of the indirect tax) in the Union Budget considering uncertainty over rollout.
GST Council’s next meeting on 16th January will play a very pivotal role in framing FM’s budget speech. India will have to implement GST on or before September 15, 2017