GOODS AND SERVICES TAX

The Hon’ble President, Mr. Pranab Mukherjee, has given his assent to the four key Goods and Services Tax (“GST”) Bills, on 12th April, 2017.

The four GST Bills i.e. The Central Goods and Services Tax Act, 2017The Integrated Goods and Services Tax Act, 2017The Goods and Services Tax(Compensation to States) Act, 2017The Union Territory Goods and Services Tax Act, 2017 which are now notified and enacted.

With the President nod, the much-awaited indirect tax reform i.e. GST further moves closer for the roll out of one-nation-one-tax regime from July 1, 2017. Further, the State Governments need to pass the State GST Bill in their respective assemblies to switch on to the GST regime, which would be more or less the replica of the CGST and UTGST Bills.

For detailed information: http://www.egazette.nic.in/WriteReadData/2017/175314.pdf

 

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