For business to be GST-ready by July, rates must be announced by early March

The GST Council (GC) has met 10 times during the past few months and has made remarkable progress on various aspects of the GST legislation. In the last meeting held on February 18, the Compensation Bill was approved by the GC and the next meeting slated for this weekend (March 4-5) is expected to finalise the CGST and IGST Bills. A key area which does not appear to be receiving requisite attentio…