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Sunday, March 19, 2017

GST - NDA Govt Cabinet clears four GST Bills; to be introduced in Parliament soon Monday March 20,2017

The Union Cabinet on Monday March 20,2017 gave its nod for four crucial GST Bills that would pave the way for the country to usher in the country's biggest-ever tax reform.
A set of four supporting legislations -- the Compensation Law, the Central-GST or C-GST, Integrated-GST or I-GST and Union Territory-GST or UT-GST -- were passed by the Cabinet for approval of the legislature.
Indications are that the Finance Minister, Arun Jaitley, will introduce these Bills in the ongoing Budget session of Parliament itself.
They are expected to be tabled in Parliament this week as Money Bills. The Government hopes to get them passed in the ongoing session to ensure the tax is implemented from the targeted date of July 1, 2017.
The State GST Bill will be taken up by State Cabinets and introduced in each State Assembly.

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