New Delhi: Finance Minister Arun Jaitley said on Friday that rolling out GST before September 16 has become a constitutional necessity as states will not be able to collect their share of taxes henceforth,there is no scope to delay the decision any further.
“The Constitution does not permit delay in GST implementation. The government notified GST on September 16 and the constitutional amendment itself says the current indirect tax system can continue for one year, after which the GST has to come, said Jaitley.” "So, if as on September 16, 2017, there is no GST, then there is no taxation in the country, he added.
The Finance Minister added that the efforts will be made to have a wide tax base and simple and and reasonable tax rate.
“Today, each person gets assessed thrice, in each of the three taxations (including VAT and central excise). Now, you will only be assessed once and what one authority assesses, others will have to accept that assessment,” he said.
Jaitley reiterated that states should shed the idea of opposing every reform as it that makes investors wary.