(FE)
Central GST & Integrated GST law have been cleared by the GST Council, according to the latest reports by news agency ANI. This move will mark the begin of a one-tax regime in India. The crucial Goods and Services Tax (GST) Council meet, headed by Finance Minister Arun Jaitley took place at Vigyan Bhavan with the agenda to get the council’s approval on iGST (integrated GST), cGST (central GST) and sGST (state GST) drafts before the second half of the budget session of Parliament that begins on March 9.
The government is keen to roll out the new regime from 1 July for which it is likely to hold 12 GST Council meetings in the next week to discuss and get it cleared. The draft compensation bill has already been approved in the Council’s February 18 meeting.
