Get set tomorrow: GST kicks in on July 1

GST will rolled out at a historic session of Parliament at midnight on June 30.

Get set for tomorrow as GST will be rolled out. The government has eased the rules from introduction of an electronic way bill to filling requirements and the need to deduct tax paid by vendors by government departments and e-commerce companies.

On Friday the government will release a spreadsheet which would enable companies and firms to maintain electronic accounts, along with invoices. With negotiations to finalise the structure going on till a fortnight ago , even the requirement for businesses to register before the new regime kicks in has been relaxed.

Suppliers can register till July-end. But the government reckons that most businesses are already registered as over 66 lakh of the 80 lakh traders, firms and companies have now registered on the portal operated by GSTN.

GST will rolled out at a historic session of Parliament at midnight on June 30. Dubbed as India's biggest tax reform, the GST will kick in from July 1. The opposition has decided to boycott the session complaining about the hurried manner in which GST is being ruled out. The Congress, Left and the TMC have said that it would stay away from the historic mid-night session of Parliament.

OneIndia News