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The bill was passed by the Rajya Sabha on 3 August 2016, and the amended bill was passed by the Lok Sabha on 8 August 2016. [ 6 ] The bill, after ratification by the States, received assent from President Pranab Mukherjee on 8 September 2016, [ 7 ] [ 8 ] and was notified in The Gazette of India on the same date.
The Rajya Sabha passed these Bills on 6 April 2017 which were then enacted as Acts on 12 April 2017. Thereafter, State Legislatures of different States have passed respective State Goods and Services Tax Bills. After the enactment of various GST laws, Goods and Services Tax was launched all over India with effect from 1 July 2017. [18]
Both centre and states should conclude 'Grand Bargain' to implement the model Goods and Services Act (GST).(Task force recommended single positive GST rate of 12% comprising 5% CGST and 7% SGST ) To incentivise the states, the commission recommended a sanction of the grant of Rs500 billion.
Man Charged with Fatally Shooting Son After Accusing Him of 'Withholding Information' About His Wife’s Alleged Affair
The Central Board of Indirect Taxes & Customs (CBIC) is headed by a chairperson and consists of six members. [2]Chairperson - Sanjay Agarwal, IRS; Member (Customs) - Rajiv Talwar, IRS (C & IT 1988) [3]
On the premiere episode of her new podcast, Khloé Kardashian recalled her "crazy, drunk" wrestling match with Scott Disick during Kim Kardashian and Kanye West's 2014 rehearsal dinner
Jaden Akins scored 20 points and No. 16 Michigan State extended its winning streak to eight games by rolling past Washington, 88-54 on Thursday night. Jeremy Fears Jr. had his first career double ...
The introduction of the Companies Act 2013 (2013 Act), which replaced the previous Companies Act 1956, was one of the most important legal reforms in recent years (1956 Act). Though the 2013 Act was a start in the right way by introducing important improvements in areas like disclosures, investor protection, corporate governance, and so on ...