GST - new Model Laws released by Central Government
THE Central Government has finally released the:
1. Revised Model GST Law
2. Draft IGST Law
3. Draft GST (Compensation to the States for Loss of Revenue) Bill, 2016
In Delhi, the government offices leak like a sieve and unconfirmed versions of the Model GST Law (with review markings) found their way into the social media. One Pravin Dhandharia tweeted on 23rd November - GST amendment copy is in circulation dated nov 2016, is it official, pl let us know - to which Revenue Secretary Hasmukh Adhia tweeted on 24th November - We have not officially shared the revised draft of Model GST Law so far. So please do not go by this.
On November 26th, the Revenue Secretary tweeted, Revised Draft Model GST Law, Draft IGST Law, Draft GST Compensation Law are uploaded on our website now; These Laws will be considered by GST Council in its meeting scheduled for 2nd and 3rd Dec and finalised.