With the 101st Constitution Amendment Act coming into force on 8th September, 2016 and notification of the GST Council on 15th September – the road to GST rollout is clear. Government is keen on introducing GSTthe biggest indirect tax reform, with effect from 01 April 2017. One of the biggest challenges is to train the indirect tax officials of both Centre and State, as well as the trade on the concepts, processes and procedures of GST Fourteendraft GST ruleshave been releasedfor public comments which includes Rules on Accounts and Records, Advance Ruling, Appeals & Revision, Assessment and Audit, e-way Bill, GST Invoice, GST Return, GST Registration, GST Payment and GST Refund rules. These rules are expected to be finalised in the next GST Council meeting to be held on 18th-19th May 2017 along with the rates of GST to be levied. Recommended Articles
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