The Union Budget 2017 session will commence a month earlier on
31 January 2017 and industry as a whole is expecting some major
economic reforms to be introduced, such as the Goods and Services
Tax (GST).
Over the past two years, the implementation of GST has been a
top priority of the government. Subsequently, the government
introduced the 122nd Constitutional Amendment Bill (CAB) to enable
the implementation of GST in India, which received Presidential
assent in September 2016.
One of the expectations from this year's budget is a roadmap
on the implementation procedure of GST in India. Trade and industry
expect the government to disclose facts such as the timeline for
GST implementation, provide clarity on the Goods and Services Tax
Network (GSTN), introduce the final Central Goods and Services Tax
(CGST) and the Integrated Goods and Services Tax (IGST) Bill and
explain the implementation strategy.
