The Parliamentary panel on Goods and Services tax (GST) is expected to submit final report before the Monsoon Session of Parliament. Chairman of the Empowered Committee of State Finance Ministers Sushilkumar Modi today said in New Delhi that the Parliamentary Standing Committee on Finance will start deliberations from June 8th on the GST Constitutional Amendment Bill. He said that Committee Chairman Yashwant Sinha has assured him to complete deliberations and prepare the report before the Monsoon session.

However, Modi refused to set a deadline for GST rollout, saying, states have many apprehensions about the actual import of the new common tax regime. Calling for more interaction between the Centre and the states to resolve the differences, Modi said the Centre is yet to assure the states on fiscal autonomy, powers to fix tax rates and impose levies, compensating the states for their revenue loss and establishing a dispute settlement authority.

Modi pointed out that the GST network or the technology platform for the new common tax regime, which will make the country a single market enabling easier and cheaper movement of goods and services, will be in place by August.