States on board for July 1 GST roll out: 

The much-awaited Goods and Services Tax (GST) is all set to be implemented by the stated deadline of July 1 as all states have agreed, reports quoting Economic Affairs Secretary Shaktikanta Das. Error loading player: No playable sources found The much-awaited Goods and Services Tax (GST) is all set to be implemented by the stated deadline of July 1 as all states have agreed, quoting Economic Affairs Secretary Shaktikanta Das. The GST Council, led by Finance Minister Arun Jaitley, will be meeting twice over the next few days, once on March 4 and 5 and thereafter, in mid-March for finalisation of laws. However, it remains to be seen whether all the laws are brought into the Budget session of the Parliament starting March 9. In its 10th meeting in February, the GST Council had finalised the Draft Compensation Bill, and cleared the final draft of the anti-profiteering clause to ensure benefit of lower taxes gets shared with consumers. 

However, crucial draft laws pertaining largely to Central GST (CGST), Integrated GST (IGST) and State GST (SGST) were left to be finalised. The government has been keen to roll out the new regime from July 1 but for that, it will have to get two laws - the Central GST (CGST) Act and Integrated GST (IGST) Act — approved by Parliament and each of the state legislatives have to pass the State GST (SGST) Act. The model GST law provides a common draft of CGST Act, SGST Act. Besides, there is an IGST law and Compensation law. "After the meeting on March 4 and 5, we hope to table the legislative laws in Parliament in the second half of the Budget session which begins on March 9," Jaitley had said after the February meeting. "The SGST law will go to the state assemblies for approval." Legally vetted drafts for all important bills would be presented to the council in March, while states are expected to get the final draft of CGST and SGST on March 1, Jaitley had said. After the meeting on March 4-5, only one more major sitting of the GST Council would be required for approval of fitting commodities into specific slabs. The GST Law Committee said that 57 issues raised in the past had been resolved in the February meeting

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