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LokSabha passes GST Constitutional Amendment Bill as amended by Rajya Sabha

Goods and Services Tax - GST - By: - Bimal jain - Dated:- 18-8-2016 Last Replied Date:- 18-8-2016 - With a strong pitch for one nation one tax , the Hon ble Finance Minister, Shri. Arun Jaitley presented, on August 8, 2016, in the Lok Sabha, the Constitution (122ndAmendment) Bill, 2014 on GST ( 122nd CAB or GST Bill ), which was passed by the Rajya Sabha on August 3, 3016 with certain key amendments, that enables the GST in the country. The Lok Sabha has unanimously passed the GST Bill with all .....

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edom from tax terrorism to Indian corporations once the GST is implemented. He used some catchy one-liners, assuring everyone that the reform will see to it that Consumer is the King and GST meant Great step towards transformation and transparency . The long-delayed GST Bill was passed unanimously in the Rajya Sabha on August 3, 2016, with the Government successfully stitching together a political consensus on the GST Bill, to pave the way for much-awaited roll out of the landmark tax reform tha .....

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ee of Rajya Sabha which had submitted its Report on 122nd CAB on July 22, 2015. The GST Bill was introduced in Rajya Sabha in May last year where it has been pending because of consensus to be emerged between ruling and opposition party over certain provisions viz. Dropping of 1% additional tax on Inter-State sale of goods, Capping of GST rate in 122nd CAB, Forming of dispute resolution authority. The key to forging consensus was the amendments the National Democratic Alliance (NDA) effected in .....

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on August 8, 2016. Steps forward to make GST a reality by April 2017: • After passage of the GST Bill, as was amended by the Rajya Sabha on August 3, 2016, by the Lok Sabha, the GST Bill will be sent to the States as 122nd CAB also have to be ratified by at least 50% of the States before being presented to the Hon ble President of India for his assent. Several States will have to call for special sessions to clear GST in the next 30 days. • GST Bill would be sent for President s assen .....

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