Indian legislation has been very tough from past few months as the aspiration for the implementation of the GST regime is getting sacked up very rapidly. And in the same direction, the Finance Minister Arun Jaitley has asked to implement the said GST tax structure by September next year.
The reason behind this urgency was cleared by him only with the statement that various taxes which are getting levied in the current scenario will expire after the mentioned time period. Along with this, the minister has also introduced three new bills in the parliament for passage and ratification.
Goods and Service tax is an upcoming tax regime which will subsume all the indirect taxes currently levied in the nation. The tax regime is supposed to be implemented by 1 April 2017.
