Union cabinet has approved four crucial GST bills.
1. The Central Goods and Services Tax Bill 2017 (The CGST Bill)
2. The Integrated Goods and Services Tax Bill 2017 (The IGST Bill)
3. The Union Territory Goods and Services Tax Bill 2017 (The UTGST Bill)
4. The Goods and Services Tax (Compensation to the States) Bill 2017 (The Compensation Bill)
SGST Bill shall be presented in respective state assemblies in due course.
The above four bills are proposed to be presented in the parliament this week for discussion. These draft bills were cleared by GST council in their earlier meetings including the discussions held in their 12th meeting held on 16 March 2017 at New Delhi. Our newsflash captures the key highlights of the said meeting.