The passage of the Bill will pave the way for setting up a GST Council that will decide the tax rate, cess and surcharges. President Pranab Mukherjee on Thursday gave assent to the Constitution Amendment Bill on Goods and Services Tax (GST), official sources said today. The passage of the Bill will pave the way for setting up a GST Council that will decide the tax rate, cess and surcharges. Now that the Bill has got Presidential assent, the government will notify the GST Council. The States and the Centre are working overtime and talking to stakeholders to draft the Central GST, State GST and Integrated GST laws, which are to be passed in the winter session of Parliament.

Source: The Hindu September 08, 2016 12:20 UTC