The government hopes to finalise tax rates for individual items by May 19, and expects all state assemblies to enact a crucial legislation by early June, to help in rolling out India’s biggest tax reform Goods and Services Tax (GST) from July.
After the Parliament passed four crucial GST bills last month, eight states—Telangana, Bihar, Rajasthan, Jharkhand, Chhattisgarh, Uttarakhand, Madhya Pradesh and Haryana—have passed the State Goods and Services Tax (SGST) Act in their respective assemblies.
“The remaining states/UTs are likely to pass the SGST Bill in their respective assemblies before the end of this month, except one or two states which may pass the same in early next month,” a finance ministry said in a statement.
The GST Council had approved the model SGST Bill March 16.
The Centre and states have to decide on the fitment of various categories of items under the four-slab GST structure of 5%, 12%, 18% and 28%.
The next GST Council meeting is scheduled to be held at Srinagar on May 18-19.
The Centre is firm in meeting the GST deadline of July, 2017.
“The quick passage of the State GST Act by the different state assemblies in a time bound manner shows the keenness on the part of the state governments to ensure that implementation of the GST in letter and spirit is not further delayed and takes place from July, 2017 as targeted by the central government,” the ministry said.
Tax officials led by Revenue Secretary Hasmukh Adhia and his counterparts in states have already started the outreach programme in order to create general awareness among the people at large and stakeholders in particular and remove their doubts about the various provisions of GST and its related legislations.