New Delhi, Jan 4: Admitting that the Goods and Services Tax (GST) Council was racing against time on its deadline of April 1, Finance Minister Arun Jaitley on Wednesday said it is hoping to resolve the two vexed issues of Integrated GST (iGST) and dual control in its next meeting on January 16.
"We know the difficulties, we are moving against time. Dual control is a complex issue. We started a decision that was inconclusive. We have decided to meet on January 16 to untie the knots in this issue," Jaitley told reporters here after the two-day GST Council meet.
"We will be meeting to conclude the discussion on the gaps in draft laws. The gaps, are on two issues. The first pertains to the definition of the word territory (in iGST) and the second is on dual control and cross empowerment," he added.
We know the difficulty, we are moving against time that is why we are meeting on 16 Jan: FM Jaitley on, if GST deadline of April will be met pic.twitter.com/FEvCXvaJCj— ANI (@ANI_news) January 4, 2017
Jaitley also said:"We will end the year with higher revenues in both direct and indirect taxes, will exceed budget estimates."