After Lok Sabha, Rajya Sabha passes key GST bills
April 06, 2017  19:18
image
The Rajya Sabha today passed four supplementary legislations which will enable the government to rollout the landmark Goods and Services Tax Bill on July 1.

The four bills are the Central Goods and Services Tax Bill, 2017, the Integrated Goods and Services Tax Bill, 2017, the Goods and Services Tax (Compensation to States) Bill, 2017 and the Union Territory Goods and Services Tax Bill, 2017.

The Lok Sabha last month had approved the Central GST (CGST), Integrated GST (IGST), Union Territory GST (UTGST) and the Compensation to states law.

Replying to a debate on the bills in Rajya Sabha, Finance Minister Arun Jaitley said there is no hesitation in conceding that it is not a bill for which one person or one government should take credit.

Touted as the biggest indirect tax reform since independence, GST would subsume central excise, service tax and other local levies.

Now, the state assemblies would consider and pass their respective State GST (SGST) law.
« Back to LIVE

TOP STORIES