As per economic affairs secretary Shaktikanta Das the Goods and Services Tax (GST) will be implemented by July 1 and not later as feared earlier on. "GST implementation is a huge one and that is going to be implemented by July 1. Both central and state governments are working on this," Das said.After the last GST meet, however, it was told that GST cannot be implemented by July 1. Citigroup Inc.'s economists say countries like Canada, Australia and New Zealand saw a one-time increase in inflation after GST implementation, which normalized in a year. Other sectors largely depend on the fine print of the GST, including exemptions.

Source: Economic Times February 28, 2017 06:34 UTC