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Apr 01, 2017

GST Bills Passed in the Lok Sabha

Lok Sabha, on March 29, 2017, passed four GST bills, (i) the Central Goods and Services Tax Bill, 2017; (ii) the Integrated Goods and Services Tax Bill, 2017; (iii) the Union Territory Goods and Services Tax Bill, 2017; and (iv) the Goods and Services Tax (Compensation to States) Bill, 2017. The bills will be placed in the Rajya Sabha for consideration. The State Goods and Service Tax Bill will also be presented in the respective State legislative assemblies. GoI, on April 1, 2017, also released eight GST Rules (Composition Rules, Valuation Rules, Transition Rules, ITC Rules, Revised Invoice Rules, Revised Payment Rules, Revised Refund Rules, Revised Registration Rules and Revised Return Rules) for inviting comments from the stakeholders.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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