CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. India Will Fail To Introduce GST On Schedule

India Will Fail To Introduce GST On Schedule

by Mary Swire, Tax-News.com, Hong Kong

28 December 2015


India will miss the April 2016 deadline for the introduction of goods and services tax, after lawmakers failed to adopt crucial legislation during the winter session of Parliament, which ended on December 23.

There were already doubts as to whether India would achieve the deadline earlier this year, with the opposition Congress Party said to be blocking the Government's efforts to finalize plans for the regime.

While India has made substantial progress towards an agreement on the scope and structure of the new regime, lawmakers have yet to agree on a revenue-neutral rate, among other things.

Under the GST proposals, the various elements of the existing indirect tax regime will be replaced by a comprehensive dual-GST system, with Central GST and State GST to be levied concurrently by the center (federal Government) and the states, respectively. The GST is the most significant economic reform before Parliament but it remains bogged down in the upper house, the Rajya Sabha, with the Congress Party standing in the way of the passage of the Constitutional Amendment Bill required to allow states to levy GST on services.

Ahead of the start of the winter session, Finance Minister Arun Jaitley told various media outlets during a trip to Dubai that the Government planned to reopen talks with opposition parties on the key Constitutional Amendment Bill. Now those talks have failed, even the introduction of GST during 2016 appears optimistic.

TAGS: Finance | tax | value added tax (VAT) | India | law | goods and services tax (GST) | legislation | Dubai | services

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 

Log into Tax-News+
Not registered yet? Find out about our daily news alert service »

 Email: 
 Password: 

Login »

Forgotten your password?







Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »