GST rates would depend upon whether the commodity is used by a rich person or a common man
Consensus seems a problem before the current session of Parliament ends.
The Rajya Sabha on Wednesday took up the four bills related to the GST, with the Opposition urging the government to insulate taxpayers from harassment and questioning how the new regime was "ideal" when 40 per cent of the revenue base of the GDP was kept out of its purview.
GST is a landmark reform considering the sweeping changes it brings about in the indirect tax regime in India.
It is doubtful that our political masters are even aware of the features of the Model Law.
Finance Minister Arun Jaitley, who is meeting state finance ministers on Thursday to garner support for the Constitution Amendment Bill for a goods & services tax (GST), is likely to immediately dole out about Rs 13,000 crore (Rs 130 billion) in Central Sales Tax (CST) compensation to states.
The government introduced the 122nd Constitution amendment Bill.
States' demand of compensation from Centre for loss of tax revenue not on agenda.
A glance back at some important events that occurred in 2018.
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