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GST is all set for a mega debut as Rajya Sabha passes four supplementary bills

The stage is all set for the rollout of the GST (Goods and Services Tax), scheduled on July 1.The Rajya Sabha yesterday passed four crucial Supplementary Bills, which will further expedite the debut of GST. After Lok Sabha gave its nod to these Bills last month, Rajya Sabha also paved way for these four Bills.
The four Supplementary Bills are the Central GST Bill, 2017; the Integrated GST Bill, 2017; the GST (Compensation to States) Bill, 2017; and the Union Territory GST Bill, 2017. Jaitley applauded the collective efforts which went into the framing of the GST regime. Finance Minister said, “This Bill, I have no hesitation in conceding, is a collective property”.
GST is passing through the last leg of the approval process. In the last part of this process States will have to pass the States GST Bill, after which the new indirect tax regime can be rolled out. While addressing the Parliament, Jaitley said, GST will not lead us towards inflation as some are expecting, but it will usher in a uniform tax regime in the country.