Read: India Sales Tax Milestone a Step Closer With New Series of BillsThe introduction of the four bills is a "concrete step toward implementation from July 1," said Santosh Dalvi, partner, indirect tax, at KPMG in India.
"It?s a massive tax change, administrative change at the center and the states, lots of procedures, processes, new forms, so there?s a huge implementation challenge," Arvind Subramanian, Modi?s chief economic adviser, said Wednesday in a Bloomberg Television interview from Hong Kong.
The goods and services tax will replace more than a dozen levies that were fracturing the world?s fastest-growing big economy, unifying India for the first time into a common market with more than 1 billion consumers.
While India?s on track to meet its deadline for a much-delayed national sales tax, implementation is seen as a test in the nation that has more states than the EU has members and a population twice that of North America.
Read: Multinationals in India Fret Over IT Readiness, Urge GST Delay
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