The Union Finance Minister Mr Arun Jaitley set a positive note on the implementation of GST in his Budget Speech, and mentioned that GST will be a game changing reform which will be implemented by 1 April 2017. Mr Jaitley kept making optimistic references to GST, and mentioned that it will play a transformative role in our economy. He also clarified that the Government is moving on various fronts to implement GST from the next year.
Speech of Sh. Arun Jaitley, Minister of Finance: February 28, 2015
“11. We are now embarked on two more game changing reforms. GST and what the Economic Survey has called the JAM Trinity – Jan Dhan, Aadhar and Mobile – to implement direct transfer of benefits. GST will put in place a state-of-the-art indirect tax system by 1st April, 2016. The JAM Trinity will allow us to transfer benefits in a leakage-proof, well-targetted and cashless manner.“
Recently Hon’ble Finance Minister Sh. Arun Jaitly again put his Government’s intention that GST would be likely to be applicable from 01-04-2016