You are using an older browser version. Please use a supported version for the best MSN experience.

GST to be launched on intervening night of 30 June and 1 July, says Arun Jaitley

LiveMint logoLiveMint 20-06-2017 PTI

New Delhi: Union finance minister Arun Jaitley on Tuesday said that there will be some challenges in switching over to the goods and services tax (GST) in the short term.

The GST will be launched on the mid-night of 30 June -1 July, he added on Tuesday.

The GST launch function will be held at the Central Hall of Parliament where Members of Parliaments (MPs), chief ministers (CMs) and state finance ministers have been invited, he said.

Those who have been invited to be on the dias include President Pranab Mukherjee, vice-president Hamid Ansari, Prime Minister Narendra Modi, Lok Sabha Speaker and former prime ministers Manmohan Singh and H.D. Deve Gowda.

“Over medium to long term, revenues of Centre, states will grow and the size of formal economy will also grow,” said Jaitley.

“We had been saying that GST will be rolled out by 1 July. Nobody had any business not to be ready,” he added.

“Anti-profiteering clause in GST has been introduced as a deterrent, which is not intended to be used unless forced to,” he added.

More From LiveMint

image beaconimage beaconimage beacon