The long pending Goods and Services Tax would subsume indirect levies such as excise, service and local taxes.
New Delhi: Finance Minister Arun Jaitley on Thursday gave a push to the Goods and Services Tax and indicated its implementation soon. During his Budget 2014 speech, Jaitley said that it is time to end the confusion over GST.
Jaitley said that the government hopes to bring a conclusion on the GST by the end of the year. "GST will streamline tax administration and result in higher tax collection for Centre and States," Jaitley said.
The long pending tax reform, GST, that would subsume indirect levies such as excise, service and local taxes, has been highlighted as an important agenda of Modi government.
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