 "Narendra Modi")
Eyeing GST rollout on April 1 next year, Prime Minister Narendra Modi has directed that all steps required in this direction be completed before that date.
However, Infosys CEO Vishal Sikka on Thursday said the rollout is a hell of a challenge, even as he pointed out that there is stilll time to address them before the deadline.
However, Infosys CEO Vishal Sikka on Thursday said the rollout is a hell of a challenge, even as he pointed out that there is stilll time to address them before the deadline.
The prime minister held a meeting to review the preparedness for rollout of GST on Wednesday. He observed that the GST Council would need to have intensive meetings to be able to make timely recommendations relating to its mandate, including proposals relating to model GST Bill, GST rates, goods and services that may be subjected to or exempted from GST.
The meeting was attended by Finance Minister Arun Jaitley and senior officials of the Prime Ministers Office and Finance Ministry.
"The Prime Minister reviewed the progress made on various steps needed for the rollout of GST relating to preparation of Model GST laws and rules to be framed, establishment of IT infrastructure for both Centre and States, training of officers of Central and State Governments and outreach for awareness of trade and industry," said a PMO statement issued on Thursday
"The Prime Minister directed that all steps must be completed much before 1st April, 2017," it said.
The first meeting of the GST Council, which will be headed by Finance Minister, will be held on September 22-23, and the panel is to give its recommendations on the tax rate and other provisions within 60 days.
Meanwhile, Sikka on Thursday made a presentation to the finance minister and senior officials of the ministry on GST Network (GSTN), a IT-backbone for GST. Coming out of the meeting, he told reporters,"There are many pockets where there is weak preparedness at this moment. But we have time between now and then, and the government is extremely keen to address that (weakness)."
He further said,"There are lots of moving parts. It is going to be a hell of a challenge. We know it is worrying sitting back there, but we are going to be ready."
Asked about the key challenges for the GST rollout, he said there are issues around technology and cultural readiness and Infosys is taking some world-class measures to ensure the GST IT framework is a secure one.
