Tuesday, March 22,
Finance Minister, Pranab Mukherjee introduced the GST Amendment Bill in the Lok Sabha today, an indirect tax regime that would include taxes like excise, service tax and sales tax..*
“The GST would replace a number of indirect taxes presently being levied by the central government and the state governments and is intended to remove cascading of taxes and provide a common national market for goods and services”, said the statement of objects and reasons of the Bill.
The GST, which is considered to be a major tax reform, has been pending for the last four years due to differences between centre and some states over the structure of the new tax regime.
Leave a Reply