Revised draft GST Law

Revised draft GST Law was put on the public domain on 25th November 2016 and thereafter, whatever suggestions have been received by GST Council were reviewed during GST Council Meetings held during the month December 2016 and finally all the sections of CGST Law
& SGST Law have been approved. Similarly, all provisions of IGST Law except for dual control has been approved by GST Council. However, issue of control on the Assessment Adjudications & Audits of the Dealers having turnover less than Rs. 1.5 Cr. has not been finalized since Law Ministry have opined differentlythan that of demands of State Govt. Perhaps, this issue will be settled in the month January 2017 but winter session of the Parliament has been washed out because political differences on demonetisation and therefore CGST Law & IGST Law could not be tabled in the parliament. Now, it may be tabled in the month of Feb 2017 i.e. Budget Session, but prior to February 2017, issues need to be resolved and therefore meeting the deadlines of Rollout of GST from 1st April 2017 seems to ambitious and difficult.


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