Cabinet clears four bills to enable rollout of GST

Ecommerce cos to pay up to 1% TCS under GST

Ecommerce cos to pay up to 1% TCS under GST

"The timely approval of the Bills by the Cabinet ensures that the industry would have reasonable time to peruse the details of the law impacting them.The GST plan is well on time and July 1 looks realistic", said Abhishek Rastogi, partner at law firm Khaitan & Co.

The Union cabinet on Monday gave its nod to the supporting legislations for the implementation of the goods and services tax (GST) paving the way for the bills to be tabled in the Lok Sabha this week.

Central GST Bill: The CGST Bill sets the tax regime for levying and collection of GST on supply of goods and/or services that are happening within the boundaries of a state by the Central Government.

Goods and Services Tax bill is India's biggest reform in India's indirect tax structure.

Jaitley arrives for the cabinet meeting in New Delhi on Monday. And the IGST Bill makes provisions for levy and collection of tax on inter-state supply of goods or services, or both, by the Central Government.

Yeah, that was a blown interference call against Gonzaga
Despite the electrifying excitement and rousing school spirit, for most fans, March Madness will ultimately lead to heartbreak. After a come-from-behind lead in the second half, Vanderbilt was ahead by one point with 20 seconds left in the game.

The GST Council, in its previous two meetings, had given approval to the four legislations as also the State-GST (S-GST) bill.

The legislations approved are Compensation Law, the Central-GST (C-GST), Integrated-GST (I-GST) and Union Territory-GST (UT-GST).

The statement elaborated that the CGST Bill makes provisions for levy and collection of tax on intra-state supply of goods or services, or both, by the Central Government. Separately, States are expected to ratify the State GST Bills approved by the GST Council after getting them passed in the respective Assemblies. The cess on demerit goods, the sin cess, such as cigarettes, alcohol, colas and cars, has been capped at 15 per cent. In April, the council will decide which commodity and service will be taxed at what rate. "This in turn will lead to the creation of more employment and increase in productivity", it said.

"The Compensation Bill provides for compensation to the states for the loss of revenue arising on account of the implementation of the goods and service tax for a period of five years, as per Section 18 of the Constitution (One Hundred and First Amendment) Act, 2016", the statement concluded.

Recommended News

  • More Departures in Uber as Two Executives Leave

    More Departures in Uber as Two Executives Leave

    In addition to this weekend's two executive departures, Uber has faced something of an executive exodus this year. In its statement, Uber did not acknowledge the concerns Jones raised, but wished him luck in future endeavors.
    M&S pulls online ads from Google over extremist content fears

    M&S pulls online ads from Google over extremist content fears

    Havas in the United Kingdom has also pulled advertising on behalf of UK-based clients. Google did not immediately respond to a request for comment.
    Saddam Hussain Is Struggling to Find a Job

    Saddam Hussain Is Struggling to Find a Job

    While Hussain says he does not blame his grandfather, he feels that he is unjustly suffering for someone else's crimes. Saddam Hussein was a dictator blamed for atrocities on his subjects until toppled by the United States in 2003.
  • On International Day of Happiness, Egypt Ranks 120 in World Happiness Report

    On International Day of Happiness, Egypt Ranks 120 in World Happiness Report

    South Sudan, Liberia, Guinea, Togo, Rwanda, Tanzania, Burundi and the Central African Republic were at the bottom. In the middle ranks were per capita GDP , freedom to make life choices and healthy life expectancy at birth.
    Michail Antonio pulls out of England squad

    Michail Antonio pulls out of England squad

    Antonio was included Gareth Southgate's 23-man squad and was widely expected to make his global debut in one of the next two games.
    Gold slips on technical selling; Fed stance caps fall

    Gold slips on technical selling; Fed stance caps fall

    At 9.15am, the home currency was trading at 65.42, down 0.08% from its Monday's close of 65.36. The dollar didn't show much reaction, taking its cue instead from the moves in USA yields.
  • Uber's No. 2 executive quits after 6 months

    It's also facing pressure on other aspects, with Google now suing the company for allegedly stealing its self-driving technology. Alas, it's likely safe to say that much, if not all, of the aforementioned controversy played a role.
    Aid worker claims Angelina Jolie adopted son Maddox using false information

    Aid worker claims Angelina Jolie adopted son Maddox using false information

    One of the angry tweets branded her "shameless" while another furious tweet said: " Angelina Jolie is a trick ass ho in this pic". Cambodian aid worker Mounh Sarath ( right ) claims the documentation Jolie used to adopt her eldest son, now 15, was falsified.

    Apple store 'maintenance' means get your credit card ready

    Apple's next iPad Pro model is expected to arrive in a 12.9-inch variant, a 9.7-inch variant and an all-new 10.5-inch variant. There are no plans for a big keynote, but there's still a chance the Apple store will return with some sweet surprises.
  • War Machine Guilty On 29 Counts, Could Face Life In Prison

    War Machine Guilty On 29 Counts, Could Face Life In Prison

    The jurors were deadlocked on the attempted murder charges, and they found War Machine not guilty on three other charges. Koppenhaver, 35, made his UFC debut at The Ultimate Fighter 6 Finale, where he won KO and Fight of the Night honors.
    WWE WrestleMania 33: Is Bayley vs. Sasha Banks Inevitable After the Show?

    WWE WrestleMania 33: Is Bayley vs. Sasha Banks Inevitable After the Show?

    Nia Jax's inclusion in the match confirms the rumours that circulated insinuating that she would be included in the match. After Stephanie McMahon fired General Manager Mick Foley, a group of people told Foley goodbye as he was leaving.

    Adam Lallana apologised to Liverpool teammates after horror miss against Manchester City

    However, it wasn't until the 19th minute when City actually went behind the Liverpool rearguard. "They played very well again". But goalkeeper Caballero agreed City had shown character at a crucial stage in their season. "It was hard .

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.