In all probability, India will roll out its biggest financial reform since independence β the Goods and Services Tax or GST – from July 1, 2017. Though delayed by three months (the original date for its rollout was fixed for April 1, 2017), the new taxation regime promises to create a single seamless national market by consolidating a range of disparate central and local taxes into one levy.
The 9th meeting of the GST Council was recently held in New Delhi wherein the center broadly consented to the statesβ demand for dual control of assessing administrative and auditing powers.
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