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7 May 2015

GST Constitution Amendment Bill in Lok Sabha

We are pleased to intimate you that today The LOK SABHA has passed the Goods and Service Tax (GST) Constitutional Amendment Bill. SH. ARUN JAITELY, Finance Minister of India, told the members of LOK SABHA that GST will bring a uniform tax structure across the country.

Now, Upper House of the Parliament i.e. RAJYA SABHA needs to ratify the Bill. Further, it should be approved by 50% of State Assemblies. Thereafter, President of India shall provide its Assent to the bill to make it applicable all over the India.

Note:

Now Indirect Tax updates are just one touch away. DYKS Team has launched android app "IDT-GST" which can be downloaded freely from play store. By using app you can also access old Do You Know Series.