28 October 2016
The Constitution (One hundred and First Amendment) Act, 2016 has been passed by both the houses of Parliament, ratified by more than 50% states and has received Presidential assent. Also, Government has released the Draft Model GST Law for public comments. Now, once CGST and IGST law are passed by the Cental Government from both the houses of parliament and receives Presidential assent & SGST law is passed by State Government in their respective State Legislative Assemblies, GST will become applicable from the effective date as notified by the Cental & State Govt. The Government has planned to pass the IGST & CGST laws in the winter session of the Parliament and set the 1st April 2017 as the target for implementation of GST. If everything goes as planned then we will have GST Law from the 1st day of next financial year. Till then all the sellers, service providers, and manufacturers will be governed by the respective laws currently enforced by the State/ Central Government
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