GST Bill Cleared?

By Vijay Kumar

THERE is no official announcement or Press Release from the Government, but everybody knows that the Cabinet has cleared the GST Bill, which may be introduced in the current session of Parliament as the 122nd Constitution Amendment Bill. "Highly placed sources" in Government are leaking bits and pieces of information on the cabinet decision. All the indirect taxes imposed by the Centre and the States, including the service tax, excise duties, stamp duties, entry tax, and central sales tax, will be subsumed into just one tax, the GST. But things are not that simple - the centre has a lot of convincing to do with the States.

It seems real estate will also suffer GST - and the Government hopes to reduce black money transactions because of the tax!

Now that GST has visibly come back to life, all the seminar experts will be back on job and we can hear a lot of noises from several concerned authorities who are not all concerned with GST.

Also please see our CobWeb today.