Transcription of Recent Updates on Goods and Services Tax (GST)
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Recent Updates on Goods and Services Tax (GST)
` Recent Updates onGoods and ServicesTax (GST)August 2016 Recent Updates on GST1 Key Updates on GSTI ntroduction of Constitutional Amendment Bill in Parliament The Constitution Amendment Bill (the Bill) for introduction of the Goods and Services Tax (GST) was presented inthe Parliament. The Bill was passed by the Rajya Sabha on 3 August 2016 and by the Lok Sabha on 8 August2016. As a next step, the Bill will need to be ratified by more than 50% state legislatures, before being put for thePresident s assent. A well-designed GST is expected to simplify and rationalize the current indirect tax regime, eliminate taxcascading and put the Indian economy on a high growth trajectory.
Recent updates on GST 1 Key updates on GST Introduction of Constitutional Amendment Bill in Parliament The Constitution Amendment Bill (the Bill) for introduction of the Goods and Services Tax (GST) was presented in
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