Now many of the Economists have strongly objected two issues.

Things are moving ahead rapidly where the Goods and Services Tax (GST) is concerned. The Cabinet has cleared the creation of the GST Council and its secretariat. And the first meeting of the Council will take place next week, reports CNBC-TV18's Sapna Das. Finance Minister Arun Jaitley and his team are moving slightly ahead of schedule when it comes to GST. The government is keen on meeting the April 2017 deadline to roll out the tax. In a major step, the government has brought into force the constitutional clauses dealing with the creation of the GST Council, as well as the GST Council secretariat. ''The GST Council will headed by the Finance Minister. We have written to chief secretaries to nominate their members to the council," Revenue Secretary Hasmukh Adhia said today. Chief secretaries will have to hurry, because the Council will meet for the first time next week -- on September 22 and 23rd -- in New Delhi. Finance Minister Arun Jaitley and the minister of state for finance Santosh Gangwar will represent the Centre's one-third voting rights in the Council. While the finance ministers of 29 states and 2 union territories will represent the states' two-third voting rights. All decisions will have to be taken with a majority of three-fourth members present and voting. The council itself will be working on a tight deadline, when it comes to critical subjects like rates, exemptions, thresholds and the model GST laws. "The GST Council will have 2 months to thrash out all issues. We will have time till November 23 to decide," Adhia said. Giving input on these crucial decisions, but without voting rights will be the revenue secretary, who will act as the ex-officio secretary to the GST Council. The chairperson of the central board of excise and customs will be a permanent invitee, albeit without voting rights. Making up the GST Council secretariat, which will function as the office of the council, will be the additional secretary - revenue, and four commissioners at the joint secretary level. The secretariat will be manned by officers taken on deputation from both the central and state governments. The Cabinet has also decided to provide for adequate funds to meet both recurring and non-recurring expenses of the GST Council secretariat -- a clear indication that the entire cost will be borne by the central government. These rapid decisions are a clear indication that the April 2017 deadline is not to be toyed with. No matter the buzz that industry has asked for an extension. "No formal request for extension from industry has been received.  The GST infra, IT framework is in place," according to Adhia. Adding to this sense of seriousness in meeting the deadline is the fact that the Centre has planned a series of GST council meetings over the next 2 months. And that means the council will be under pressure to discuss and resolve key issues without too much delay.
Mean while Continuing to attack the firm set up by the UPA government to provide support structure for GST rollout, BJP MP Subramanian Swamy on Friday alleged “loot” in IDFC extending a Rs 550-crore loan to GSTN on government guarantee.

“Scandal: IDFC gives a loan of Rs 550 crore today to GSTN. Guarantor: GOI, not majority shareholders! Why? Looting India Robert Clive way,” the BJP MP said in a tweet.

The Goods and Services Tax Network (GSTN) is the special purpose vehicle that was formed under the previous UPA government to set up the information technology framework for rolling out the indirect tax regime that will replace a string of local levies.

The government of India holds 24.5 per cent stake in GSTN while states together hold another 24.5 per cent. The balance 51 equity is held by private financial institutions — ICICI Bank, HDFC Bank, HDFC Ltd, LIC Housing Finance and National Stock Exchange Strategic Investment Corporation.

Earlier, while releasing a book, Swamy had said it may not be possible to implement GST unless private companies are replaced by state-owned firms in the GSTN, the backbone for putting in place the new indirect tax regime.

Now many of the Economists have strongly objected the following:

1. Involvement of   private companies in GSTN.   Not only to collect  revenue but also  to protect the  security of the country, privates companies should not be involved on such highly sensitives activities. Otherwise it may repeat the history on the happenings on  collection of salt duty by East India Company.  

2. An IAS Officer should not be the Secretary of GST Council.- Instead of an IAS officer one expert having sufficient knowledge on tax matters, preferably cadre officer of Customs and Central Excise  should be selected as Secretary , GST Council.