16 was the number of states required to ratify the GST Constitutional Amendment Bill. On Friday, Rajasthan and Puducherry Assemblies also ratified the Bill taking the count to 18.
Centre had set 8th September as deadline to have requisite states ratify the Bill. By the look of pace at which things are moving, April 1, 2017 deadline for GST Roll out could well be met.
Let’s take a look at what are the next steps until April 2017 on legislative and IT level:
1. The Bill shall be signed by President of India, thereby converting it into Law. (expected by 8th September)
2. Cabinet shall form GST Council – it will comprise of finance minister of states. (expected by 15th September)
3. GST Council shall discuss and vet the GST Law before Finance Minister presents it in Winter session.
4. Moving CGST/IGST bill in winter session of parliament. SGST bill to be moved by state assemblies.(expected by November end/ December start)
5. GST Rules aligned to CGST/SGST and IGST Law shall be released (expected by January)
6. PAN India GST Roll out (April 1, 2017)
GSTN (IT Backbone) Steps
1. Back end system for Banks, RBI and CBEC (expected by November)
2. Back end system for states (expected by December)
3. Testing and support (January – March)