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Genesis of GST
Bill passed on:-
Lok sabha bill - 29th March 2017
Raja sabha bill - 6th April 2017
President's assent - 12th April 2017
Bill passed
Benefits
1. Boost 'make in India ' initiative
2. Mitigation of ill effects of cascading
3. Elimination of multiple taxes and double taxation
4. Buoyancy to govt. Revenue
5. Creation of unified national market
Constitutional provisions
Articles :-
1. 265 - only govt can empose law
2. 245- relationship between union and state
3. 246- it gives the respective authority to union and state government to levying tax
4. 7th shudule of 246 - list
5. 246A - power to make laws with respect of GST
6.269A - levy and collection of GST on inter state supply
7. 366 - definition of GST ; service ; state
8. 279A - GST council
Articles baby
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