The GST bill, intends to convert 29 states into a single market through a new indirect tax regime.
Among the amendments approved include the abolishment of a 1 percent additional tax levy which was demanded by the Opposition parties led by Congress.
It also approved the compensation for states for five years instead of the earlier ‘up to five years as proposed in the draft GST bill.
The Constitutional Bill will include that dispute resolution will be handled by the GST council.
The Cabinet also dropped a 1 percent manufacturing tax.
The GST was supposed to be implemented from April 1, 2016 but strong opposition from Congress led to the delay.
The Bill has already been passed by the lower house of Parliament and awaits the passage from the Upper House. It requires two-thirds vote to get passed from both houses.
Popular Blogs:
CBDT issue an explanation in Vivad se Vishwas act,2020
CBDT-Tax deptt. hopes to finalize all faceless e-assessment
Tax filing Changes are taken into account when filing ITR for FY-2019-20
Salaried Employees: Big Income Tax Changes Coming from April 2026! India’s upcoming I. Tax Act, 2025, is set to bring… Read More
FCRA Amendment Bill 2026: Key Changes, Impact, and Compliance Guide The Foreign Contribution (Regulation) Amendment Bill, 2026, introduced on 25… Read More
Compliance Due Dates Calendar April 2026 Tax and GST Compliance Calendar for the April 2026 GST Due Dates 10 April 2026… Read More
Avoid Rejection: How to Conduct Proper Brand Verification Before Legal Protection Introduction Building a strong brand begins with selecting the… Read More
When Banks Lose Your Property Documents in a loan case Background of the Case : Loan & Security Arrangement Manoj Madhusudhanan… Read More
Whether electricity qualifies as “goods” for applying TDS under Section 194Q. Is Electricity “Goods”? Electricity is not defined in the… Read More