Tuesday, 23 August 2016

Model GST Law

Presented by 
FCA. Puneet Goyal

  • Finally Government succeeding in getting passed GST on 3rd August 2016 in Rajya Sabha.

  • The Constitution (122nd Amendment) Bill 2014 on GST as amended by Rajya Sabha on  3rd August 2016 passed in LOK Sabha on 08th August 2016.
  • The Constitution (122nd Amendment) Bill 2014 will be called The Constitution (101st Amendment) Act 2016 after getting assent of President of India.
  • After the ratification and the subsequent Presidential assent, a GST Council with the representatives from the Centre and States will be formed within 60 days of the enactment of the Bill.
  • After Assam became the first state to ratify the Constitution (122nd Amendment) Bill 2014 on GST, till today i.e. 23rd August 2016 six states ratified the Bill.
  • Other states had also decided tentative schedules for the ratification in their respective state assemblies.
  • The Government expects to complete the ratification process by the States within a month and expecting target implementation date 1st April 2017 for GST.
  • As per Clause 12 of The Constitution (122nd Amendment) Bill 2014, article 279A shall be inserted in Constitution of India and as per this article, The President shall, within 60 days from the date of commencement of The Constitution (101st Amendment) Act 2016, by order, constitute a council to be called Goods and Service Tax Council.
  • GST Council will have members from Centre and State Government .
  • GST Council will recommend to the Union and State on various issues like the taxes, cess etc. levied by Union, State and local bodies which may be subsummed in the GST, goods and service exempted from GST, threshold limits of turnover, the principle that govern the place of supply etc.
  • Please find below link at CBEC.GOV.IN website of Draft Model GST Law:

  • I hope above blog is useful for you. Your valuable feedback in respect of same would be highly appreciated.

    (Disclaimer: The above analysis has been drafted as per various provisions of Constitution of India. The analysis may not be entirely correct for reader to reader due to different interpretations by different readers. The readers are advised to take into the consideration the prevailing legal position before acting on author’s view in caption blog. We shall not be responsible for any loss caused based on this interpretation.)

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