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FOUR GST BILL THAT WERE PASSED BY CABINET

Goods and Services Tax - GST - By: - esha agrawal - Dated:- 1-4-2017 - The Union Cabinet has cleared four bills related to the Goods and Services Tax (GST), ahead of their introduction in Parliament, to enable roll out of the tax reform from July 1. Approval of the bills by Parliament and a separate one by all state Assemblies will complete the legislative process for roll out of the GST, the one-nation-one-tax system that merges central taxes like excise duty and service tax and state levies li .....

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e duties and service tax and state levies like VAT will be absorbed under GST. What were the four bills approved by the Cabinet ? The Central Goods and Services Tax Bill 2017 (The CGST Bill), The Integrated Goods and Services Tax Bill 2017 (The IGST Bill), The Union Territory Goods and Services Tax Bill 2017 (The UTGST Bill) and The Goods and Services Tax (Compensation to the States) Bill 2017 (The Compensation Bill) GST Bill peak rate to be 40%, slabs intact for now The GST levy may go up to 40 .....

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