Tuesday, 9 August 2016

Steps to apply GST Bill in India

 

goods & service Tax in india
GST means Goods and Services Tax and This Bill which is pending from last 12 years.

After a long Period and so many discussions, Now this Bill has passed from both the assemblies i.e. Rajya Sabha and Lok Sabha. 

But do you think that GST Bill is now easily applied in India. 


No.... there is a long way to go.

& the question in mind is what are the steps to apply the GST Bill in India

As we all know that people are discussing about the advantages and disadvantages of GST Bill in India. This is also true whenever there is major change happens in the systems all have to suffer for a short time.

Let  me clarify you :-

Steps to Apply goods & services Tax Bill in India




Firstly it had been Passed from RajyaSabha and then all the amendments of the Bill had also passed from Loksabha. This process is already successfully over..
Now the GST bill will go to all states assembly and as per the constitution of India.
This bill must be passed and supported by 50% States of India, means at least 15 states have to approve this GST Bill to be applied in India.
This is the Biggest steps to apply GST Bill.

After this GST Bill will go to Presidents Office for his assent as per the law. After the Approval of the President It will be a Law and proceed Further.  
Now the Process of GST will Start. The structure of Goods & Service Tax Council will be follow to creating a constitutional body. This GST council have members from centre as well as from states.
This GST Bill council also make a decision on the GST Rate to be applicable.
If all the things goes well then again it has to be table on Rajya Sabha and Lok Sabha for Final Approval to apply GST Bill In India.

All the process of charging the GST and mechanism has to be setup.

Finally The GST will apply in all the state and hope for the good days of not paying Tax on Tax. 
so Above were the steps to apply GST Bill in India and we all hope that this will apply by 1st April 2017. Current government is trying Hardly to make it happen by the 1st April 2017. Prime Minister and Finance Minister is personally looking after this.

Also Read and comment Below for any Information.

Advantage and Disadvantages of GST bill

GST Bill Importance and Benefits in India

No comments:
Write comments

Earn First

Follow Business Batao