The government has emphasised the urgency to pass the GST laws during the current session of Parliament, saying the Centre and the states would otherwise lose their right to collect indirect taxes after September 15.The Constitutional Amendment Bill for roll out of GST was notified on September 16, 2016 and it provides for one year to switch-over to the new indirect tax regime. "So after September 15 this year, the legal entitlement for collection of taxes will end. So the alternative system has to come in place before September 15," finance minister Arun Jaitley said.

Source: Times of India March 29, 2017 03:42 UTC