The Union Cabinet on Monday gave its nod for four crucial GST Bills that would pave the way for the country to usher in the country’s biggest-ever tax reform.
The meeting chaired by Prime Minister Narendra Modi is understood to have approved the four Bills – CentralGST, iGST, UTBill and compensation related Bill.
Indications are that the Finance Minister, Arun Jaitley, will introduce these Bills in the ongoing Budget session of Parliament itself.
They are expected to be tabled in Parliament this week as Money Bills. The Government hopes to get them passed in the ongoing session to ensure the tax is implemented from the targeted date of July 1, 2017.
The State GST Bill will be taken up by State Cabinets and introduced in each State Assembly.