Typing Master

Following ratification of the CAB, the GST Council has to be created, laws and procedures to be drafted and approved, administrative structures put in place and issues such as taxable base, GST rates and exemptions ironed out between the Centre and states. The Budget, while reaffirming the Government's plan to implement GST on April 1, 2016 does not provide any road map. While it is recognised that the design of the GST can only be decided by the GST Council, the FM would have done well to outline the steps being taken for its timely implementation. Given the opacity of timelines and rules and procedures, it would be a challenge for corporate India to be GST-ready.