Kolkata: Union Minister of State for Finance Arjun Ram Meghwal on Sunday expressed confidence that the historic tax reform Goods and Services Tax (GST) will roll out from July 1.
“100 percent GST will be implemented from July 1,” Meghwal said here when asked on GST roll out.
“In the last meeting four rules had been approved and the next meeting is in Srinagar,” he said on the sidelines of ICC organised on investment opportunities in African country Democratic Republic of Congo.
Adding further, he said, the government will resolve the problems of the trade and if GST begins from July 1, there will be no loss to trade and industry.
On March 29, Lok Sabha approved the four supplementary legislations.
The Central GST Bill, 2017; The Integrated GST Bill, 2017; The GST (Compensation to States) Bill, 2017; and The Union Territory GST Bill, 2017 were passed after negation of a host of amendments moved by the opposition parties.
The Council, however, deferred a decision on tax structure to its next meeting on May 18-19.
Meghwal said that states are been told to strengthen their IT infrastructure and focus on manpower training.
“Trade, chambers are suggesting. We are continuously meeting them and communicating the benefits. If there are some problems..we will solve it,” the minister said.
He said that the government will open guidance centres including in the villages where internet is available to support the trade in getting registered with GST.
Meanwhile, Meghwal said that the government was ready to cooperate for greater trade relationship and cross-investments in the central African country of Congo which offers huge opportunity in agro, mining and hydro power.
India was building 16MW x4 hydro power plant in the country which was expected to be completed in the next 30 months, a BHEL official said.