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Tuesday , 22 August 2017
Breaking News

4 GST supplementary bills cleared by Cabinet; Parliament approval required next

After the Cabinet gave the green signal to 4 supporting GST legislations, the next stage would see its introduction in the Parliament for approval. The four supporting legislations cleared by Cabinet include the Compensation Law, the Central-GST (C-GST), Integrated-GST (I-GST) and Union Territory-GST (UT-GST). These would be introduced in the Parliament as Money Bill. Sources said that it could be introduced in the Parliament today itself or max by end of this week. The Cabinet meeting held today, which was chaired by Prime Minister Narendra Modi, focused exclusively and solely on the GST legislations.

Once the Parliament approves these four GST legislations, the next stage would see the States taking up these legislations for discussion and approval in their respective State assemblies. Once the States approve these legislations along with other rules and regulations, it would become possible to launch GST in the country from July 1. The government is expecting that the Parliament will approve the C-GST, I-GST, UT-GST and the GST Compensation laws in the current Parliamentary session. It is also hopeful that the S-GST will also be approved soon by the State legislatures.

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