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GST Bill gets President s assent Now becomes a law

Goods and Services Tax - GST - By: - Bimal jain - Dated:- 9-9-2016 Last Replied Date:- 11-9-2016 - Dear Professional Colleague, GST Bill gets President s assent - Now becomes a law The Government s plan to roll out Goods and Services Tax ( GST ) from April 1, 2017, has moved an inched closer to the reality with the Hon ble President Shri. Pranab Mukherjee signing the Government s flagship Constitution (122ndAmendment) Bill, 2014 on GST ( GST Bill ), just a while ago. The much-awaited GST now bec .....

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services by subsuming a slew of around 17 indirect taxes viz. Excise Duty, Service Tax, VAT, CST, Luxury tax, Entertainment Tax, Entry Tax, etc. Earlier, the Rajya Sabha has unanimously passed the ambitious GST Bill, as amended with over 2/3 majority on August 3, 2016, followed by its approval by the Lok Sabha on August 8, 2016. The key to forging consensus was the amendments the National Democratic Alliance (NDA) effected in the GST Bill, which importantly included dropping of 1% additional tax .....

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