<b>T N C Rajagopalan:</b> GST shouldn't be a racing contest

It is better not to rush implementation due to extraneous considerations

Last week, the Goods and Services Tax (GST) Council approved the final draft of the Central GST (CGST) and Integrated GST (IGST) model laws to be placed before Parliament by the finance minister later this month. At its next meeting, the Council is expected to approve the final State GST (SGST) model law, to be placed before state legislatures in the coming weeks.

The Council also approved certain reliefs for the services sector, initially kept outside the proposed composition scheme for annual turnover up to Rs 50 lakh. And, retained the existing mechanism of Input Service Distributor to allow the