<h1>India Implements GST: Council Finalizes Rules, Sets Rates, and Ensures State Compensation for April 2017 Roll-Out.</h1> The Government of India swiftly implemented the Goods and Services Tax (GST) following the President's assent to the Constitutional Amendment Act in September 2016. The GST Council, formed shortly thereafter, has held six meetings to facilitate the GST roll-out by April 1, 2017. Key decisions include setting exemption thresholds, compensation for states, and GST rate bands. The Council has approved draft GST rules and agreed on a reimbursement mechanism for existing tax incentive schemes. Discussions have been cordial, with decisions made by consensus, ensuring timely implementation of GST-related laws and IT systems.