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WITH GST CONSTITUTIONAL AMENDMENTS WHAT NEXT ?

Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 26-8-2016 Last Replied Date:- 31-8-2016 - The GST Bill - The Constitution (One Hundred and Twenty-second Amendment) Bill, 2014 has been discussed and passed by Rajya Sabha on 3rd August, 2016 after a 7 hours long debate by members of Rajya Sabha. The discussion on the GST bill came after months of discussions between the ruling party and the opposition - with both sides meeting multiple times to negotiate amendments. The momentous .....

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to raise revenue in emergency situations. The subsequent GST Bill should not be categorized as Money Bill, by passing Rajya Sabha. Cap on GST rates of 18% Improved dispute resolution mechanism Compensation to states for revenue ('may' replaced by 'shall') loss for 5 years on account of introduction of GST 1 percent additional inter-state tax withdrawn Dispute resolution forum to adjudicate disputes between Centre and states Two or more states Centre + states and other states Tax .....

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ll these legal procedures, Parliament would take up the actual CGST and IGST Bills (possibly in the winter session). Passage of SGST law by State Legislative Assemblies Formulation of GST rules by Union and States and notification thereof GSTN Network including testing Training and awareness The Bill has since been ratified by the Legislative Assemblies of Assam (12.08.2016), Bihar (13.08.2016), Jharkhand (17.08.2016), Himachal Pradesh (22.08.2016), Chhattisgarh (22.08.2016) and Gujarat (23.08.2 .....

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