The Goods & Service Tax
The goods and services tax (GST) Bill was passed unanimously in the Parliament in August, 2016 reflecting cooperative fiscal federalism in the pursuit of reforms. After ratification by a majority of states and assent of the President, it was enacted as Constitution (One Hundred and First Amendment) Act, 2016.
- The GST is the largest tax reform in India, paving the way for a single national market by merging several central and state taxes.
- It is also expected to make Indian products more competitive in both domestic and international markets and also attract large inflows of foreign direct investment than before in view ....
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