The Goods and Services Tax (GST) is the biggest indirect tax reform since Independence The Goods and Services Tax (GST) is the biggest indirect tax reform since IndependenceIn a special midnight session in the central hall of Parliament, the Goods and Services Tax (GST) will be rolled out Friday in what will be the beginning of one of the biggest indirect tax reform measures since Independence. All four bills related to GST were passed by both Houses of Parliament in April this year. Mallikarjun Kharge, the Congress’s leader in Lok Sabha, said the UPA had passed several significant Acts like the RTI Act, Food Security Act, MGNREGA and Right to Education Act, but never held such celebrations in the Central Hall. The GST’s introduction will ensure that all central, state level taxes and levies on all goods and services are subsumed within an integrated tax having two components – central GST and a state GST. All four GST bills were passed by both Houses of Parliament earlier this year pointing to a July 1 rollout.

Source: Indian Express June 30, 2017 09:56 UTC