| Title |
INDIA - TAXATION -
Goods and Services tax (GST) |
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Date-wise Events |
- August 03, 2016:
-
Rajya Sabha, the upper House of the Indian
Parliament passed the coveted GST Bill, which is considered as the
biggest tax reform since 1991.
- September
08, 2016:
- President of India, Pranab
Mukherjee, gave his assent to the landmark Goods and
Services Tax (GST) Bill. The central government had sent
the Constitutional Amendment Bill to the President after
16 states ratified the legislation.
- April 06, 2017:
- The Rajya Sabha passed four
supplementary legislations which will enable the
government to rollout the landmark Goods and Services
Tax Bill on July 01, 2017. The four Bills are the
Central Goods and Services Tax Bill, 2017, the
Integrated Goods and Services Tax Bill, 2017, the Goods
and Services Tax (Compensation to States) Bill, 2017 and
the Union Territory Goods and Services Tax Bill, 2017.
- July 01, 2017:
The GST regime came into force on this day, all over India
excepting Jammu and Kashmir, which is yet to pass the GST
resolution in the assembly.
- July 05, 2017:
Jammu and Kashmir Assemly also passed the resolution for
adopting and implementing the GST regime, thereby
integrating its economy with the rest of India. The
resolution was passed amid ruckus by the opposition in the
Assembly.
- November 24, 2017:
The Union Cabinet chaired by the Prime Minister Narendra
Modi granted its approval for the creation of the posts of
Chairman and Technical Members of the National
Anti-profiteering Authority (NAA) under GST, following up
immediately on yesterday's sharp reduction in the GST rates
of a large number of items of mass consumption.
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Description |
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