Today Mr Arun Jaitley, Finance Minister said that GST (Goods and Services Tax) rule requires being in place between 1st April 2017 to 16th September, 2017, due to legitimate forces.
Mr. Jaitley addressing the 89th annual general meeting of Federation of Indian Chambers of Commerce and Industry (FICCI), said that the range of timing when GST has to be in place is between April 1 and September 16, 2017 due to constitutional necessity. Nobody has the luxury of time. As per Finance Minister the GST should come into effect from April 1, 2017 preferably. He also added that Central GST, Integrated GST and state compensation matter for revenue losses bills are in the process of getting drafted at present, and these drafts of matter needs to be approved by the Parliament.
Finance Minister said that important issue of double control, whether Centre or the states will be having exercise control over GST assesses. At FICCI’s 89th Annual General Meeting (AGM) was gathered by renowned speakers who gave their views about the situation which country witnessing in view of issues related to demonetisation, Whereas Mr Jaitley spoke about GST, Railway Minister Suresh Prabhu gave his speech on the requirement of structural changes, needed by railway, investments, improved customer services and freight part.
Mr. Ravi Shankar Prasad, the honorable Minister Law & Justice and IT said in the AGM that Today India is known as a home to 50 crore internet & the biggest startup movement. Favoring the ditiatl payments, he said Digital governance is transparent, honest and good governance.
Minister Law & Justice and IT Ravi Shankar Prasad also mentioned that Government is about to happen with a concept of digital village which will issue shortly. Mr. Rajan Bharti Mittal, Bharti Airtel said Demographic bonus that we have needs to be connected, else, it will be an enormous negative in future.
FICCI is known as the Federation of Indian Chambers of Commerce and Industry which is an association of business organizations in India. This organization was established in year 1927. FICCI is the largest, oldest and the top business organization in India. It is a non-government and not-for-profit organization. FICCI pulls its affiliation from the corporate sector, both private and public.
FICCI was founded by Mr. Ghanshyam Das Birla and Purushottam das Thakurdas. It’s headquartered is in New Delhi the national capital of India. Also has existence in more 12 states in India and 8 countries diagonally the world.