Union Minister of State for Finance Arjun Meghwal today said that the central government headed by Prime Minister Narendra Modi will ensure that the Goods and Services Tax (GST) is rolled out from April 1, 2017, across India.
"I can assure you that April 1st, 2017 is the target date for implementing GST in India and we will abide by that target and I can assure you that from April 1st 2017, GST will be applicable in the country," Meghwal said while inaugurating an ASSOCHAM event in New Delhi.
He said that all issues affecting state governments including standard rate, area-based exemption, product-based exemption and GST rate slab will be decided in the GST Council after detailed discussion with the states.
"We will deliberate the issues and definitely decide in the interest of the nation," he said.
Meghwal pointed out that GST has the potential of taking India's GDP growth to double digit level i.e., up to 10 per cent from the current level of over seven percent.
He also said that the government is slowly moving towards the goal of “one nation, one tax”.
The minister further said that the government is in the planning stage to curtail black money generation in the country.
"We are in the planning stage to curtail the black money in the generation process as we do not want black money to be generated," he said.