RBI has said, the introduction of Goods and Services Tax (GST) will have economy-wide ramifications and holds the best bet for state governments to improve their finances without cutting productive expenditure. <br/><br/><br/>The apex bank said this in its report titled, 'State Finances: A Study of Budgets of 2016-17'. It said, GST will have economy-wide ramifications in terms of growth, inflation, government finances and external competitiveness over the medium-term.<br/><br/>Referring to the challenges, RBI said, GST implementation should be addressed through a robust dispute resolution mechanism and the Goods and Services Tax Network (GSTN) is expected to provide the necessary information technology (IT) infrastructure to all stakeholders.<br/><br/>GSTN is the IT backbone of the country's largest tax reform which is scheduled to be rolled out from 1st of July.<br/>

RBI has said, the introduction of Goods and Services Tax (GST) will have economy-wide ramifications and holds the best bet for state governments to improve their finances without cutting productive expenditure. <br/><br/><br/>The apex bank said this in its report titled, 'State Finances: A Study of Budgets of 2016-17'. It said, GST will have economy-wide ramifications in terms of growth, inflation, government finances and external competitiveness over the medium-term.<br/><br/>Referring to the challenges, RBI said, GST implementation should be addressed through a robust dispute resolution mechanism and the Goods and Services Tax Network (GSTN) is expected to provide the necessary information technology (IT) infrastructure to all stakeholders.<br/><br/>GSTN is the IT backbone of the country's largest tax reform which is scheduled to be rolled out from 1st of July.<br/>