GST Council clears Central GST and Integrated GST Bills

The GST (Goods and Services Tax) Council, headed by Mr. Arun Jaitley, Union Finance Minister, cleared the Central GST Bill and draft Integrated GST Bill on Saturday, 04th March, 2017. The Union Finance Minister stated, β€œThe decision was unanimous and all the States supported it.”

He further said that 1st July, 2017 now optimistically looks like the possible date for implementation of GST.

The Council will meet again to consider the remaining two laws, the State GST law and the Union Territories GST Law.

β€œThe SGST law will apply to all States and Union Territories with legislatures (Delhi and Puducherry), but will not apply to those Union Territories without a legislature,” the Union Finance Minister said.

 

Disclaimer: The entire content of this document have been prepared as per the information existing at the time of the preparation. The author of this blog does not take any responsibility of the same.

Advertisements