Guwahati  
 
logo
  Guwahati,
North East »» Manipur territorial integrity will be protected, says CM•••ONGC's exploration mission begins in Northeast: Official•••NH 44 will remain open during monsoon, assures Assam •••State »» Ex-Servicemen rally organized by Army•••KSA seeks early solution to Assam-Meghalaya border dispute •••Stress laid on improving tea industry, role of small tea growers lauded •••National »» Hizbul commander killed in J&K shootout •••Hyderabad police foil protest over 'dharna chowk'•••Indians regard nature as mother: Rajnath•••International »» Six killed in blasts in Bangladesh •••Trump promises new healthcare plan once Obamacare 'explodes'•••'Pakistan's ties with China not a zero-sum game'•••    
  Home » Front Page » Story
 
Cabinet clears four GST-related bills

New Delhi, March 20: The Union Cabinet on Monday approved four Goods and Services Tax (GST)-related bills, which have already been approved by the GST Council after detailed discussions.

The draft legislations include Central Goods and Services Tax (CGST) Bill 2017, Integrated Goods and Services Tax (IGST) Bill 2017, Union Territory Goods and Services Tax Bill (UTGST) 2017 and Goods and Services Tax (Compensation to the States) Bill 2017.

“With the Cabinet approval to these four bills, the GST regime in India is in the final stages of culmination and the GST law will most likely be implemented from July 1. The four Bills have been earlier approved by the GST Council after thorough, clause by clause discussion over 12 meetings of the Council held in the last six months,” Finance Ministry said in statement.

The draft bills now need to be tabled in Parliament’s ongoing budget session.

Minister of State for Finance Santosh Kumar Gangwar said here on Monday that all the four draft legislations pertaining to the GST would be moved in Parliament within next 10 days.

“Within the next 10 days, we will place the bills in this Lok Sabha session,” Gangwar told BTVi.

While the CGST Bill makes provisions for levy and collection of tax by the central government on intra-state supply of goods and services, the IGST Bill does it for inter-state supply.

Similarly, the UTGST Bill is for the Union Territories like Andaman and Nicobar Islands, Lakshadweep, Daman and Diu, and Dadra and Nagar Haveli, which do not have their independent legislative assemblies.

The Compensation Bill provides for compensation to the states for a period of five years for loss of revenue due to implementation of the Goods and Services Tax.

The GST draft law will have to be approved by all the state legislative assemblies, including those of Delhi and Puducherry.

“Centre and states have to carry forward the legislative process. July 1 looks very much feasible. GST should be implemented from July 1,” Economic Affairs Secretary Shaktikanta Das told BTVi in an interview.

“It is expected that the implementation of the Goods and Services Tax law will lead to an increase in Gross Domestic Product (GDP) of the country by one-two per cent. This in turn will lead to the creation of more employment and increase in productivity,” the ministry statement added. (IANS)

.
       
Maximum
 
Minimum
 
oC
oC
oC
oC
oC
oC
oC
oC
oC
oC
oC
oC
 Arunachal News
 Meghalaya News
CM inaugurates Kharkutta Police Station
State has alarming proportion of untrained teachers: CAG
JACATAM serves State government deadline
Birth anniversary celebrated
 Northeast News
Manipur territorial integrity will be protected, says CM
ONGC's exploration mission begins in Northeast: Official
NH 44 will remain open during monsoon, assures Assam
No agreement to carve out larger Nagaland, says government
 Cachar News
Garbage is not a waste but a resource: C Srinivasan
Primates face struggle for survival in Cachar
 National News
Hizbul commander killed in J&K shootout
Hyderabad police foil protest over 'dharna chowk'
Indians regard nature as mother: Rajnath
Allow us to build Ram temple, Swamy tells Muslims
 International News
Six killed in blasts in Bangladesh
Trump promises new healthcare plan once Obamacare 'explodes'
'Pakistan's ties with China not a zero-sum game'
'Turkey may hold referendum on EU accession process'
 State-1
Ex-Servicemen rally organized by Army
KSA seeks early solution to Assam-Meghalaya border dispute 
Stress laid on improving tea industry, role of small tea growers lauded
ATASU to organize Mukoli Bihu
 State-2
Peace and unity among different tribal communities underscored
'Low back pain is a major health problem in all developed countries'
Puthimari Bapubheti farmers set an example in organic farming
Workers in Gohpur tea gardens demand wages in cash
 Local Sports
Time to work on publicity and better transport facilities: Yarza
Barpeta, Dhemaji win titles
Neelabh causes major upset
 Sports
Lyon leads Australia's comeback on see-saw day
Lyon revels at extracting bounce at Dharamsala pitch
Pandey's 104 helps India 'Red' beat Tamil Nadu by 32 runs
Indian eves play 2-2 draw against Chile
 Editorial
Celebrating our rivers
Towards ensuring quality education
'Over 70% aquifers overdrawn, water crisis looming'
Letters to the Editor
 Op-Ed (Sunday)
Of kebabs, slaughterhouses and crocodile meat
Ownership: A Sinking Ship
Religion and Humanity
 
Assam
 
Assam is a northeastern state of India with its capital at Dispur located in the city of Guwahati.
 
more...
Nagaland
 
Nagaland is a northeastern state of India with its capital at Kohima. located in the Guwahati city.
 
more...
Mizoram
 
Mizoram is a northeastern state of India with its capital at Aizwal. located in the Guwahati city.
 
more...
Meghalaya
 
Meghalaya is a northeastern state of India with its capital at Shillong. located in the Guwahati.
 
more...
Manipur
 
Manipur is a northeastern state of India with its capital at Imphal.
 
more...
Tripura
 
Tripura is a northeastern state of India with its capital at Agartala.
 
more...
Arunachal Pradesh
 
Arunachal Pradesh is a northeastern state of India with its capital at Itanagar.
 
more...
Sikkim
 
Sikkim is a northeastern state of India with its capital at Gangtok.
 
more...
Home  |  Guwahati City  |  Editorial  |  International  |  National  |  Business  |  Arunachal  |  Meghalaya   |  Northeast  |  State  |  Cachar  |  Sports   |  Local Sports
 Archive  |  Melange  |  Saturday Fare  |  Junior Sentinel  |  Multilingual  |  About Us  |  Contact Us  |  Advertise with us  |  Dongmusa