The President of India, Pranab Mukherjee has given his approval to four supporting legislations related to Goods and Services Tax (GST), paving the way for the roll-out of India’s most waited for Indirect tax reform from July 1.
The legislations were The Central Goods and Services Tax Act, 2017, The Integrated Goods and Services Tax Act, 2017, The Goods and Services Tax (Compensation to States) Act, 2017, and The Union Territory Goods and Services Tax Act, 2017, officials said on Thursday.
Last week, the Rajya Sabha had signed off on all the four supporting Bills of GST without any amendments.
Since the supporting Bills became Act, the only major task now left to be resolved is for the GST council to fit various goods and services into different tax slabs. The Council is scheduled to meet in Srinagar on 18-19 May to resolve this task.
Read the full text of the four Acts below.
