(PTI)
The Cabinet on Monday may take up for approval the supporting GST legislations, which will then be introduced in Parliament as the government sprints to meet the July 1 target date for rollout of the new indirect tax regime. A set of four supporting legislations — the Compensation Law, the Central-GST or C-GST, Integrated-GST or I-GST and Union Territory-GST or UT-GST — are likely to together go to the Cabinet for approval.
Sources said the Cabinet meeting has been called for Monday morning and the agenda list may not be very long.The GST Council, in its previous two meetings, had given approval to the four legislations as also the State-GST (S-GST) bill. While the S-GST has to be passed by each of the state legislative assemblies, the other four laws have to be approved by Parliament.
Once approved, levy of Goods and Services Tax (GST) will get legal backing.The government is hoping the C-GST, I-GST, UT-GST and the GST Compensation laws will be approved in the current session of Parliament and the S-GST by each of the state legislatures soon to help roll out the new indirect tax regime from July 1.
