Union Finance Minister Arun Jaitley has said, government is running against time for the implementation of Goods and Services Tax (GST). Speaking at the Economist India Summit in New Delhi today, Mr Jaitley said, the Centre would certainly try to meet the deadline and implement GST from 1st April next year. He said, the Centre has kept a very stiff target as there is a national aspiration in support of indirect tax reforms, and states are ratifying GST because they stand to benefit the most. Mr Jaitley said, the procedural formalities of collecting proceedings of all the states and sending it to the President for ratification are on.

The constitution amendment bill will have to be notified once the assent is granted by President Pranab Mukherjee.

The Minister also said after notification and constitution of the GST Council, some pending issues will have to be resolved by the council. He also said, the passage of central laws and GST Bill are among the important economic legislations for the government.