Finally, the draft bills of GST presented in the Rajya Sabha for the discussion as speculated by the GST council and government authorities to wind up the GST procedure as soon as possible. Earlier the Lok Sabha has cleared four significant bills of GST which were relevant to Central GST, Integrated GST, UT GST and GST Compensation bill.
The central goods and service tax have been passed to follow the tax related issues of center authority while the integrated GST bill is connected to the inter state movement of goods and tax related to them. As cleared by the union minister Arun Jaitley, the main objective of the government is to roll out the tax regime soon in order to analyze the post effects and quickly make modifications.
Read Also: What is Union Territory GST and Why It Is Implemented
This will make one tax rate for one commodity regardless of the state where it is being sold, as the ministry mentioned that from the rolling out of GST the logistics will be getting the boost which in turn give the commodities a flow towards every state counted in a neutral manner. The goods and service tax in India is positively considered to be the most effective tax regime upcoming which will subsume all the taxes currently prevailing in the nation.
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