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Jaitley introduces four GST bills in Lok Sabha

Jaitley introduces four GST bills in Lok Sabha

New Delhi, March 27 (IANS) Finance Minister Arun Jaitley on Monday introduced the Central Goods and Services Tax (GST) Bill 2017 and three other bills related to the Goods and Services Tax in the Lok Sabha.

The Central Goods and Services Tax (GST) Bill 2017 will make provision for levy and collection of tax on intra-state supply of goods, services or both by the central government.

 

Besides, Jaitley also tabled the Integrated Goods and Services Tax Bill, 2017, which makes provision for levy and collection of tax on inter-State supply.

Jaitley presented the Goods and Services Tax (Compensation to States) that will provide compensation to the states for the loss of revenue arising on account of implementation of the GST.

The fourth bill -- Union Territory Goods and Services Tax Bill 2017 -- will make a provision for levy and collection of tax on intra-state supply of goods, services or both by the Union territories.

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Jaitley introduces four GST bills in Lok Sabha

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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.

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