The multi-tiered rate structure which was earlier released for the states didn’t show up this time while the parliament is busy in various other critical issues revolving in the country. The most talked about the debate was, of course, the demonetization move of the government while the CGST and integrated GST bill is likely to get introduced in late November.
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Official sources told that “Rates are not a part of the Bills at the moment. Most probably, powers will be taken to notify exemptions and rates. Even today, the Central Board of Excise and Customs notifies these.”
“It has also not yet been decided how to ring-fence these rates, one of the crucial demands of the Congress, sources added. “There is no finality as of now on how rates will be ring-fenced,” it added
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Various bills are in the queue right now, while the center has pressure to ensure that the CGST, SGST and compensation bills should get some passage through the parliament by the end of this fiscal year. The implementation of Goods and Service Taxis is set for 1 April 2017 after the clearance of all the bills in the parliament.
