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GST HISTORY INDIA

IN 2017 GST PROGRESS

1 JULY  2017 GST LAUNCHED IN INDIA

 29 March 2017 All 4 GST bills passed in Loksabha PM Modi congratulated country

In their 12th meeting held on 16-March-2017 GST Council clears State GST and Union Territory GST Laws.

GST Council has today clears State GST and Union Territory GST Laws. With approval of these two crucial legislations the government has tried to give a push to its effort to roll out the ambitious Goods & Service Tax (GST) wef 01.07.2017

IN 2016 GST

27 Nov 2016  The revised drafts of three Goods and Service Tax laws have been released after incorporating suggestions from stakeholders.

GST BILL IS LAW NOW- PRESIDENT SIGNED GST BILL ON 08 SEP, 2016

AFTER THE PRESIDENT CONSENT on 10th Sep 2016, Ministry of Finance notified the 12 Sep 2016 as appointment date to implement GST COUNCIL

“presently the Model Law i.e Goods and Service Tax Act, 2016( CGST AND IGST) both in public domain. 

GST HISTORYGST HISTORY
GST HISTORY

gst history

 

STATES IN INDIA WHO RATIFIED Goods and Service Tax (GST) Constitution Amendment Bill*

GST HISTORY – state wise list who accepted GST bill first

S.NOStatePassed OnGovernment
1Assam12th August, 2016BJP, CM Chief Minister Sarbananda Sonowal
2Bihar16TH August, 2016RJD-JDU, CM Nitish Kumar
3Jharkhand17th August, 2016BJP, CM Raghubar Das
4Himachal Pradesh22nd August, 2016Congress, CM Virbhadra Singh
5Chhattisgarh22nd August, 2016BJP, CM RAMAN SINGH
6Gujrat23rd August, 2016BJP, CM Vijay Rupani
7Madhya Pradesh24th August, 2016BJP,  CM Shivraj Singh Chouhan
8Delhi24th August, 2016AAP, CM Arvind Kejriwal
9Nagaland26th August, 2016Naga People’s Front, CM T.R. Zeliang
10Maharashtra29th August, 2016BJP-SHIVSENA, CM Devendra Fadnavis
11Haryana29th August, 2016BJP, CM Manhoar Lal Khattar
12Sikkim30th August, 2016SDF, Pawan Kumar Chamling
13Telangana30th August, 2016TRS, CM Kalvakuntala Chandrasekhara Rao
14Mizoram30th August, 2016Congress, CM Lal Thanawala
15GOA31th August, 2016BJP, CM Lakshmikant Pareskar
16Odhisha1th September, 2016BJD, CM Naveen Patnaik
17Puducherry2th September, 2016Congress, V. Narayanaswamy
18Rajasthan2th September, 2016BJP, CM Vasundhara Raje
19Andhra Pradesh8th September, 2016TDP, CM N. Chandrababu Naidu
20Arunachal Pradesh8th September, 2016Janta Party, CM Prem Khandu
21Meghalya9th September, 2016Congress, CM Mukul Sangma
22Punjab12th September, 2016BJP-AKAALI, CM Prakash Singh Badal
23Tripura26th September, 2016CPI, CM Manik Sarkar

 

 

*last updated 14 Sep, 2016, 09:00AM

 

 

GST BILL IS LAW NOW- PRESIDENT SIGNED GST BILL ON 08 SEP, 2016

 

GST JOURNEY IN INDIA IN DETAIL

GST HISTORY from beginning

    1. In 2000, the Vajpayee Government started discussion on GST by setting up an empowered committee. The committee was headed by Asim Dasgupta, (Finance Minister,Government of West Bengal). It was given the task of designing the GST model and overseeing the IT back-end preparedness for its rollout.It is considered to be a major improvement over the pre-existing central excise duty at the national level and the sales tax system at the state level, the new tax will be a further significant breakthrough and the next logical step towards a comprehensive indirect tax reform in the country.
    2. The Kelkar Task Force on implementation of the FRBM Act, 2003 had pointed out that although the indirect tax policy in India has been steadily progressing in the direction of VAT principle since 1986, the existing system of taxation of goods and services still suffers from many problems and had suggested a comprehensive Goods and Services Tax (GST) based on VAT principle. GST system is targeted to be a simple, transparent and efficient system of indirect taxation as has been adopted by over 130 countries around the world. This involves taxation of goods and services in an integrated manner as the blurring of line of demarcation between goods and services has made separate taxation of goods and services untenable.
    3. Introduction of an Goods and Services Tax (GST) to replace the existing multiple tax structures of Centre and State taxes is not only desirable but imperative in the emerging economic environment. Increasingly, services are used or consumed in production and distribution of goods and vice versa. Separate taxation of goods and services often requires splitting of transactions value into value of goods and services for taxation, which leads to greater complexities, administration and compliances costs. Integration of various Central and State taxes into a GST system would make it possible to give full credit for inputs taxes collected. GST, being a destination-based consumption tax based on VAT principle, would also greatly help in removing economic distortions caused by present complex tax structure and will help in development of a common national market.

 

  1. A proposal to introduce a national level Goods and Services Tax (GST) by April 1, 2010 was first mooted in the Budget Speech for the financial year 2006-07. Since the proposal involved reform/ restructuring of not only indirect taxes levied by the Centre but also the States, the responsibility of preparing a Design and Road Map for the implementation of GST was assigned to the Empowered Committee of State Finance Ministers (EC). In April, 2008, the EC a report to the titled “A Model and Roadmap for Goods and Services Tax (GST) in India” containing broad recommendations about the structure and design of GST. In response to the report, the Department of Revenue made some suggestions to be incorporated in the design and structure of proposed GST. Based on inputs from GoI and States, The EC released its First Discussion Paper on Goods and Services Tax in India on the 10th of November, 2009 with the objective of generating a debate and obtaining inputs from all stakeholders.
  2. A dual GST module for the country has been proposed by the EC. This dual GST model has been accepted by centre. Under this model GST have two components viz. the Central GST to be levied and collected by the Centre and the State GST to be levied and collected by the respective States. Central Excise duty, additional excise duty, Service Tax, and additional duty of customs (equivalent to excise), State VAT, entertainment tax, taxes on lotteries, betting and gambling and entry tax (not levied by local bodies) would be subsumed within GST.
  3. In order to take the GST related work further, a Joint Working Group consisting of officers from Central as well as State Government was constituted. This was further trifurcated into three Sub-Working Groups to work separately on draft legislations required for GST, process/forms to be followed in GST regime and IT infrastructure development needed for smooth functioning of proposed GST. In addition, an Empowered Group for development of IT Systems required for Goods and Services Tax regime has been set up under the chairmanship of Dr. Nandan Nilekani.
  4. A draft of the Constitutional Amendment Bill has been prepared and has been sent to the EC for obtaining views of the States.

The Goods and Service Tax Bill or GST Bill, officially known as would be a Value added Tax (VAT) also  passed from Rajya Sabha on 3 August 2016 with amendments. After moving to Loksabha  it approved on 08 August, 2016.

 GST stands for “Goods and Services Tax”, and is proposed to be a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level. It will replace all indirect taxes levied on goods and services by the Indian Central and State governments. It is aimed at being comprehensive for most goods and services.

presently the Model Law i.e Goods and Service Tax Act, 2016( CGST AND IGST) both in public domain. 

In their 12th meeting held on 16-March-2017 GST Council clears State GST and Union Territory GST Laws.

GST HISTORY