GST BILL INTRODUCED IN LOK SABHA

The GST Constitutional Amendment Bill has been passed in the Lok Sabha. Now it has to be passed by the Rajya Sabha and further has to be ratified by at least 50% of the state assemblies before getting the assent of the Hon’ble President of India.

 

This bill will give power to the Government to introduce GST in India. After getting cleared the GST Bill from all the stages, Centre and States have to draft and get cleared their own Acts and Rules for GST.

 

It can now be said that a milestone towards GST introduction in India has been achieved by getting the GST Amendment Bill cleared from the Lok Sabha. However, the biggest milestone upfront is to get the bill passed in the Rajya Sabha.