Finance Minister Arun Jaitley, after the meeting of Empowered Committee of State Finance Ministers, has said, “So far, every state has given its detailed views on the GST itself. Virtually, every state has supported the idea of GST except one state Tamil Nadu, they have made some suggestions which has been taken note of.
CBEC released the Model State and Central GST Bills in Nov 2016. Model State/Central GST Bill provides for the levy of:
(i) State Goods and Services Tax (SGST) by the states. and
(ii) the Central Goods and Services Tax (CGST) by the centre,
Finance Minister TODAY has released the Model GST Law after getting in-principle nod from the Empowered Committee of State Finance Ministers. The copy of the Model GST Law can be down loaded from the following link:
https://www.finmin.nic.in/reports/ModelGSTLaw_draft.pdf
A printable Copy in PDF format is also attached for your ready reference…
Hope, you will find the same useful…Happy GST ahead…
Popular Articles :
IMPACTS OF GST E-INVOICING SYSTEM
Key characteristics for Auto-population of e-invoice
Extention of TDS/TCS statement filing Date
Exploring Corporate Bonds in India - A Comprehensive Guide Corporate bonds in India represent a compelling investment option, offering a… Read More
Central Board of Direct Taxes Mandates E-Filing of Appendix-II Forms under Income Tax Rules, 1962 The Central Board of Direct… Read More
Payment System or mechanism under GST Regime General Rules for Payments Regular taxpayers under GST must compute tax monthly,… Read More
Rule 86B under the GST Regime Rule 86B is a provision introduced under the Goods and Services Tax (GST) regime… Read More
Big Relief to Taxpayers- welcome change for GST taxpayers The recent update by the Goods and Services Tax Network (GSTN)… Read More
Central Board of Indirect Taxes & Customs Circulars Issued on 26th June 2024 Following the recommendations from the 53rd GST… Read More