India GST July launch doubts
- Apr 18, 2017 | Richard Asquith
The current launch date of 1 July for Indian Goods and Services Tax is looking increasingly at risk. The risk of a delay till 1 September is now being publicly discussed.
Approved GST legislation leave outstanding issues
The key four GST legislative Bills have now been approved by the President on 12 April. GST guidelines have also been published to help companies prepare for the launch of the new indirect tax. However, several key issues have yet to be resolved to hit the July launch date.
- Application of four GST rates (28%; 18%; 12%; and 5%), plus zero-rating essentials and foodstuffs
- Deemed exports which will be customs and GST exempted even though they do not leave India
- Reverse charge on government-nominated services
- Supplies outside of the definition of goods or services – the ‘negative list’ - e.g. employment or public services