It is the biggest tax reforms in India which is projected to raise the country’s GDP by two per cent
Finance minister Arun Jaitely
NEW DELHI: The Constitutional Amendment Bill on Goods and Services Tax, the biggest tax reforms in India’s history which is projected to raise the country’s GDP by two per cent, will likely be introduced in Lok Sabha by finance minister Arun Jaitely on Monday.
The much-awaited GST on which consensus eluded for over a decade is a major indirect tax reform and will bring down tax rates by removing different types of Centre and states taxes and will also make movement of goods across the country easier.
The Cabinet had on Wednesday cleared The Const-itutional Amendment Bill on Goods and Services Tax, paving the way for its introduction in Lok Sabha since the legislation has a financial component attached to it.
“The GST Bill will be introduced in Lok Sabha on Monday,” a senior minister in the NDA government said on Thursday.
( Source : dc correspondent )
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