New Delhi: President Pranab Mukherjee on Thursday gave his nod to the enabling Constitution amendment bill for the goods and services tax, a Rashtrapati Bhawan official confirmed. After a long delay, the bill was passed by Parliament last month and subsequently ratified by more than 50% of the states earlier this month before it was sent for President’s nod. Resolution of these issues is important if the government wants to table the supporting legislations—the central GST law and the integrated GST law in the upcoming winter session of Parliament starting in November. The government is targeting to implement GST from 1 April 2017 but it will be dependent on a consensus on contentious issues i within three months between the Centre and the states. Finance minister Arun Jaitley had said on Wednesday that 1 April was a stiff target but the government will strive to meet it.

Source: Mint September 08, 2016 11:31 UTC