amendments in Goods and Services Constitutional Act.

 

www.carajput.com; GST

The Cabinet today approved the amendments to the Goods and Services Constitutional Act.

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

Rajput Jain & Associates

Rajput Jain & Associates is a Chartered Accountants firm, with it's headquarter situated at New Delhi (the capital of India). The firm has been set up by a group of young, enthusiastic, highly skilled and motivated professionals who have taken experience from top consulting firms and are extensively experienced in their chosen fields has providing a wide array of Accounting, Auditing, Taxation, Assurance and Business advisory services to various clients and their stakeholders. Rajput jain & Associates, a professional firm, offers its clients a full range of services, To serve better and to bring bucket of services under one roof, the firm has merged with it various Chartered Accountancy firms pioneer in diversified fields. We have associates all over India in big cities. All our offices are well equipped with latest technological support with updated reference materials. We have a large team of professionals other than our Core Team members to meet the requirements of our prospective clients including the existing ones. However, considering our commitment towards high quality services to our clients, our team keeps on growing with more and more associates having strong professional background with good exposure in the related areas of responsibility.

Recent Posts

What is UPI MDR) and Why Is It Being Introduced?

What is UPI MDR (Merchant Discount Rate), and why is it being introduced? What is MDR? Merchant Discount Rate (MDR)… Read More

7 hours ago

Building a Robust Audit Manual for CA Firms : Implementation

Building a Robust Audit Manual for CA Firms: From Design to Implementation In today's increasingly regulated audit environment, maintaining a… Read More

2 days ago

AFA Renewal for Dec 2026 & Its Impact on NCLT Empanelment

Apply Early, Stay Compliant: AFA Renewal for December 2026 and Its Impact on NCLT Empanelment The renewal of the Authorisation… Read More

3 days ago

Decoding Form 10B & Form 10BB for AY 2026-27

Decoding Form 10B & Form 10BB for AY 2026-27: for Charitable Trust Introduction The audit reporting landscape for charitable trusts… Read More

4 days ago

Govt Approves EPFO Wage Ceiling from 15k to 25k Per Month

Cabinet Approves Enhancement of EPFO Wage Ceiling from INR 15,000 to INR 25,000 per Month The Union Cabinet, chaired by… Read More

1 week ago

Income Tax Practitioner (ITP) as per New I Tax Act 2025

Income Tax Practitioner (ITP) Registration Process as per New Income Tax Act, 2025 We are going to discuss the Concept… Read More

1 week ago
Call Us Enquire Now