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The Union Finance Minister Arun Jaitley on Wednesday stated that there is a constitutional necessity to roll out the new tax regime of the Goods and Services Tax (GST) before September 16, if not from April 1.
Speaking on the sidelines of the seminars at the 8th Vibrant Gujarat Global Summit at Mahatma Mandir in Gandhinagar, Jaitley stated that since the constitutional amendments have already been made and accepted, it is necessary to roll-out the new tax - GST before September 16.
"We want it to be rolled out from April 1, if all the issues are resolved by then. If that doesn't happen, then it is inevitable to roll it out before September 16. The constitutional amendment has already been accepted and made effective. Hence, it is a constitutional necessity to rollout GST before September 16," he said on the sidelines of the Summit here.
However, Jaitley during his address at the seminar on 'GST - A Game Changer', stated that after over a decade waiting, GST will be implemented from April this year.
"Since the beginning I have been associated with all the development of GST and finally we are expecting to implement it from April this year. GST will act as booster for Indian economy. To make India from developing nation to developed nation, new tax regime will help us in it."
Notably, a consensus is yet to be reached on the new tax regime as certain "critical issues" concerning states continue to block the broad consensus.
"Over the next few weeks we will try to resolve these issues," the Finance Minister stated.
Adding further he said, "The implementation of GST coupled with the Prime Ministers' push for digital economy, will make Indian economy look much better, cleaner and bigger... For the betterment of the country, government has to take tough decisions. It will have an advantage to the economy, to the business and to the nation."
Referring to the macro-economic reforms initiated after the 2014, Jaitley referred to policy reforms, which will help boos the economy.
Jaitley added, "India needs bold decisions. It can be understood that difficult decisions initially pass through difficult phases but it is ultimately help us to improve the country."
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