Looking for a business loan


Thank you for your interest, our team will get back to you shortly

Please Fill the Details to download

Thank you for your response

Get Expert Assistance

Thank you for your response

Our representative will get in touch with you shortly.

India's #1 GST software

1 click autofill GSTR-3B with G1 and 2B data

Download 2B data for multiple months in < 2mins

GSTR-2B vs purchase matching in under 1 min

India's No 1 GST software

Save upto 7% in taxes

Claim 100% ITC and save ~4% GST

3x faster experience

Save 2 man days every GSTIN month

Easy to connect

Connect with 100s of ERP's, import data error-free

GST Council Deadlock – A Blessing in Disguise for SMEs?

Impact of the Deadlock in GST Council over the contentious issue of Revenue Sharing and Dual Control

Updated on :  

08 min read.

GST council today met for the ninth time to settle down the contentious issue of dual control, but the deadlock still remains. It was highly anticipated that conclusion would be drawn this time, however finance minister failed to bring consensus among the states over the issue of revenue sharing and dual control.

Delay on agreement between states might force center to go for voting which has been avoided so far and approach of unanimous decision between states has been maintained. Major implication of today’s meeting are:

  • Roll-out of GST from 1st April, 2017 is now virtually  not possible, we may expect a revised date from government shortly.
  • Small and Medium Businesses may have a reason to cheer as they get the luxury of time to plan and execute the transition into GST regime.
  • GSTN, the company responsible for setting up the IT infrastructure for GST implementation will have more time to test the system and make it more robust.
  • Central Government might opt for voting on these issue between states, this may upset certain states like West Bengal and Kerala.
  • While all the planning has been done keeping April 1,2017 as the roll-out date, Ministry of Finance may have to work regressively on the draft  budget and Indirect Tax related provisions under the current regime only.

Given the situation that GST is not implemented from April 1, it needs to be implemented anyhow before September 16, 2017. This is because of the amendment in the Constitution of India which empower both Central and State government to collect current indirect taxes only till 1 year from the passage of constitution amendment bill, this date falls on September 16, 2017.

For more updates and guides on Goods and Services Tax, click here.

inline CTA
India’s Fastest and Most Advanced 2B Matching
Maximise ITC claims, use smart validations to correct your data and complete 2B matching in <1 minute