With five months of financial year 2015- 16 left, the time is right to assess the progress of announcements made by Finance Minister Arun Jaitley in the Budget for 2015- 16. The government cleared confusions relating to tax matters. However, most of these relate to Jaitleys maiden Budget for 2014- 15. The finance ministry also did away with minimum alternate tax ( MAT), not only on foreign portfolio investors (FPIs), but also on businesses without permanent establishment in India. However, this was not a Budget announcement, but a fallout of the proposal that did away with MAT on FPIs prospectively. The most important of these measures was to be the introduction of the Goods and Services Tax ( GST) from the next financial year. The Constitution Amendment Bill in this regard is stuck in the Rajya Sabha. The Congress, All India Anna Dravida Munnetra Kazhagam and left parties are opposed to it in the present form, despite a Rajya Sabha select panel altering the contentious one p