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FM Arun Jaitley On GST: Prices Of Some Goods And Commodities May Come Down
As the Rajya Sabha passed the Constitution Amendment Bill for GST rollout, Finance Minister Arun Jaitley addressed the press conference on Thursday.

As the Rajya Sabha passed the Constitution Amendment Bill for GST rollout, Finance Minister Arun Jaitley addressed the press conference on Thursday.

Highlights:

ALSO READ: GST Amendment Bill Passed In Rajya Sabha

– Will have to wait till decision of rate structure, in order to work out compensation requirement for states: FM Arun Jaitley
– Model has 233 odd clauses, in public domain; 40,000 pages of representation received from industry in 2 months: FM Arun Jaitley
– A team has been formed to go through the representations and do the needful: Finance Minister Arun Jaitley
– A team has been formed to go through the representations and do the needful: Finance Minister Arun Jaitley
-Even the manufacturing states were of opinion that this would help in plugging the leakages,would expand taxation base: FM Jaitley
– Role of State Govts extremely positive, more and more state Govts felt that this would help their revenue: FM Jaitley
– 60,000 officials to be trained on laws and IT framework: Arun Jaitley
– By Dec 2016, all back-end and front-end IT systems expected to be ready; followed by testing: Arun Jaitley
– GST roll out target date is April 1, 2017: Revenue Secretary
– Yesterday a very major step forward has been taken in direction of having a uniform tax in the country: FM Arun Jaitley #GST
– The constitutional amendment was pending for a long time, predominantly becuse Rajya Sabha was not able to reach a consensus: FM #GST
– Most important thing is that it was passed with unanimity, except for the AIADMK who walked out: Finance Minister Arun Jaitley #GST
– We rarely saw a situation where there was a sense of public anxiety over the delay of a Bill: Arun Jaitley
– I am sure once #GST is rolled out, doing business in India would be easier, would help a large body of traders, business people: FM Jaitley
– After rolling out of GST, prices of some goods and commodities may come down: FM Jaitley.