“CII is greatly enthused by the outcome of the meeting of the Empowered Committee of State Finance Ministers held today and welcomes the release of the Model Goods & Services Tax (GST) Law. This is indeed a step forward in implementation of the much awaited GST, and will encourage industry to think that GST may become a reality after the coming Monsoon Session”’, said Chandrajit Banerjee, Director General, CII.
‘We look forward to the positive movement and with these initiatives, it is expected that implementation of GST with effect from 1 April 2017 will become a reality. GST is India’s most significant tax reform in decades. GST, when implemented, is expected to usher in a harmonised national market of goods and servi