GST from 1 July; states have come on board, council meet to okay drafts: Shaktikanta Das

New Delhi: The Goods and Services Tax (GST) will be implemented from 1 July as all states have agreed on the implementation date, Economic Affairs Secretary Shaktikanta Das said on Tuesday. [caption id=“attachment_2940664” align=“alignleft” width=“380”]  Representational image. Reuters[/caption] “GST should be implemented by 1 July. All states have agreed (on the date),” Das told reporters here. The government plans to get the GST Council’s approval on iGST (integrated GST), cGST (central GST) and sGST (state GST) drafts at its 4-5 March  meeting before the second half of the budget session of Parliament begins on 9 March. The draft compensation bill has already been approved in the Council’s 18 February  meeting. The draft laws passed by the Council will have to be passed by Parliament. Simultaneously, sGST will have to be passed by state legislatures. The four bills form the enabling laws under the GST constitutional amendment. Another step remaining is to slot all the commodities under the GST tax slabs: 5 percent, 12 percent, 18 percent and 28 percent. Each item has to be fitted under a particular slab. After the 4-5 March  meeting, GST officers will do the slotting.