After the last GST Council meeting, finance minister Arun Jaitley said the centre and states have completed discussion on most of the issues for a 1 July GST rollout. “The rumors about GST implementation being delayed are false,” revenue secretary Hasmukh Adhia said in a Twitter post on Tuesday. The tax would be the most significant economic reform since Prime Minister Narendra Modi’s government took power in 2014. And although many analysts expect some degree of upheaval in the short-term, officials have said GST may bolster growth as much as 2 percentage points. Various industry groups representing India’s millions of small-and-medium sized businesses are still hoping for a delay or lenience on tax compliance.

Source: Mint June 13, 2017 14:09 UTC