Goods & Services Tax (GST) is a major tool for improving ease of doing business, said Minister of State for Finance Arjun Ram Meghwal adding that the government will be able to implement from April 1, next year.

“April 1, 2017, is the target date for implementation of GST in India and we are abiding by that particular target. From April 1, GST will be applicable in the country... GST is a major tool for improving ease of doing business in India,” Meghwal said while addressing the Incredible India Global Investors' Summit organized by Assocham here today.

The minister added that all the issues, including the GST rate, area-based exemption, slabs in rates will be decided by the GST Council after detailed discussion with the states.

The GST Council will today hold its first meeting in the national capital to decide on long pending issues of threshold limit for applicability of the tax as well as the limit for dual control between Centre and states.

The two-day 2nd Global Investors’ India Forum started today in the national capital.

The Forum is being organized by ASSOCHAM and is being officially supported  by the Investment, Technology Promotion & Energy Security Division, Ministry of External Affairs and the Department of Industrial Policy & Promotion, GoI & State Governments. The event is also being supported by industry body FISME. (KNN Bureau)