Interesting facts about GST Bill

Some interesting facts about GST

            Journey of GST is going to be very interesting. The bill which is being put to vote on Wednesday 3rd Aug is not GST bill. It's constitutional amendment bill. Actually the centre at present does not have the right to tax sale of goods except inter state sales and on other hand states do not have power to levy tax on services . The division of power between centre and states is mentioned in article 246 that is why the a new article 246A is  being added to the Constitution which will pave way for giving the necessary powers to state as well the centre. Now question arises why there was so much noise because the constitutional amendment needs to be passed by special majority I.e. two third of the members present as well the majority of the total membership of the house . That is why the support of Congress and other regional parties was needed. What after the bill amending schedule VII is passed then the same amendment is to be rarified by atleast half of the state assemblies then it will be sent for president assent but interestingly president can't say no because the amendment has been Carried by special majority. Any other step or is it over . No there is still few more legislation . After the constitutional amendment is endorsed by the states the proposed GST council will be set up which will deliberate on the GST bill based on which a GST law and IGST law will be readied. So wait for little more time before you get the GST Act 2017 in your hand.

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