GST Council to consider pleas on rates, compliance requirement after 1 July

After Cabinet meeting Finance Minister Arun Jaitley rejected demands for deferring the GST rollout saying the Constitution does not give luxury to delay the nation's biggest economic reform by 6months

As the Central and state governments set to notify the goods and services tax rates, the Goods and Services Tax (GST) council will also consider more requests for relief on rates and compliance requirement from businesses and traders after the rollout of the biggest indirect tax reform on 1 July.

In the wake of protests staged by textile traders, road builders, furniture makers and diamond merchants over the tax rates and the compliance requirement the GST council is preparing for further requests for tax relief, reports business daily Livemint.

However, the council is unlikely to change GST tax rates before the midnight rollout of the tax reform, but a GST implementation committee (GIC) led by revenue secretary Hasmukh Adhia has been set up to tackle emergencies.

After Cabinet meeting on Wednesday Finance Minister Arun Jaitley rejected demands for deferring the GST rollout saying the Constitution does not give luxury to delay the nation's biggest economic reform by six months.

Over the two months, the GST Council, chaired by Jaitley and comprising state representatives, fitted goods and services in the tax bracket of 5, 12, 18 and 28 per cent.

The Council has met 17 times since September and decided on rules and regulations for the new indirect tax regime.

(With agency inputs)