Cabinet clears 4 GST Bills
The Cabinet clears four supporting GST legislations to be introduced in Parliament soon. The Cabinet approves Compensation Law, the Central-GST (C-GST), Integrated-GST (I-GST) and Union Territory-GST (UT-GST). GST supporting legislations to be introduced as money bill in Parliament this week.
On March 16, the Centre and states approved SGST and UT-GST Bills that will enable states and Union territories to introduce the GST, billed as Indias biggest tax reforms.
On March 4, the council had approved the CGST and IGST Bills.
In the last meeting, the GST Council capped cess on demerit goods and luxury products at 15%.
The Modi government has been able to bring all states on board, overcoming almost a decade of political differences on how to replace a multi-layered set of central and state taxes and levies with a unified nationwide GST.