WITH GST CONSTITUTIONAL AMENDMENTS, WHAT NEXT ?
By: – Dr. Sanjiv Agarwal
Goods and Services Tax – GST
Dated:- 26-8-2016<\/p>\n
The GST Bill – The Constitution (One Hundred and Twenty-second Amendment) Bill, 2014 has been discussed and passed by Rajya Sabha on 3rd August, 2016 after a 7 hours long debate by members of Rajya Sabha. The discussion on the GST bill came after months of discussions between the ruling party and the opposition – with both sides meeting multiple times to negotiate amendments.
\nThe momentous Bill, which marks the first parliamentary step towards implementation of a “one country, one market, one tax” framework, was cleared by a two-thirds majority, which is required for any Constitution Amendment Bill, following a division of votes.
\nIn the process of renewed Parliamentary approvals, opposition had sought from the Government certain assurances and the amendments are in relation to the following:
\n * The actual GST Bill should take care of concerns about<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n * It will then go for presidential assent before being notified in the gazette = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n amendment bill . one can expect soon that Central Government will move to the next stage soon i.e To decide on the contentious issue on fixing GST rates in consultation with the various states. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" WITH GST CONSTITUTIONAL AMENDMENTS, WHAT NEXT ?By: – Dr. Sanjiv Agarwal Goods and Services Tax – GSTDated:- 26-8-2016 The GST Bill – The Constitution (One Hundred and Twenty-second Amendment) Bill, 2014 has been discussed and passed by Rajya Sabha on 3rd August, 2016 after a 7 hours long debate by members of Rajya Sabha. The … Continue reading “WITH GST CONSTITUTIONAL AMENDMENTS, WHAT NEXT ?”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-952","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=952"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/952\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n * After all these legal procedures, Parliament would take up the actual CGST and IGST Bills (possibly in the winter session).
\n * Passage of SGST law by State Legislative Assemblies
\n * Formulation of GST rules by Union and States and notification thereof
\n * GSTN Network including testing
\n * Training and awareness
\nThe Bill has since been ratified by the Legislative Assemblies of Assam (12.08.2016), Bihar (13.08.2016), Jharkhand (17.08.2016), Himachal Pradesh (22.08.2016), Chhattisgarh (22.08.2016) and Gujarat (23.08.2016) and ratification by Delhi, Madhya Pradesh, Haryana, Goa, Maharashtra, Rajasthan etc are likely to follow suit.
\nGST : Immediate Challenges ahead
\n * Ratification by states
\n * Rate of GST
\n * Exemptions \/ Negative list
\n * Threshold limits
\n * Finalization of GST laws
\n * Composition limit
\n * Dual control by state \/ centre
\nThe ratification by States is not a major issue and will hap<\/p>\n
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\nIt is expected to benefit consumer help Governement revenues and add over all economic growth.
\n Dated: 30-8-2016
\n Reply By Dr. Sanjiv Agarwal as =
\nDear Manoj ji ,
\nWhat is the need to challenge Constitutional Amendment ? Are there any issues ?
\nThe Constitutional Amendment Bill is passed by both the houses of Parliament and there does not seem to be anything unconstitutional .
\nThanks & Regards ,
\nCA Neha Somani
\n Dated: 31-8-2016
\n Reply By Dr. Sanjiv Agarwal as =
\nDear Shankar ji ,
\nThank you for your comments .
\nThe GST Bill is to be ratified by minimum of 16 states and then the Bill would be signed by President to become an Act . Further , GST Council would be constituted within 60 days to decide and recommend to the Government about the rates and other things .
\nThanks & Regards ,
\nC<\/p>\n
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