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What Is The Introduction Of Gst

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Introduction
India as world’s one the biggest democratic country follows the federal tax system for levy and collection of various taxes. Different types of indirect taxes are levied and collected at different point in the supply chain. The Centre and the states are empowered to levy respective taxes as per the constitution of India.
The Value Added Tax (VAT) when introduced was considered.
In 2000, the Vajpayee Government started discussion on GST by setting up an empowered committee. The committee was headed by Asim Dasgupta,
Finance Minister in Government of West Bengal. But an announcement to GST for the first time was made by Palaniappan Chidambaram, the Union Finance
Minister, during budget of 2007-08 that it would introduced from 1 …show more content…

Mr. Pranab Babu, (Hon’ble Union Home Minister of Finance Pranab
Mukherjee) has made a remark in his Budget Speech of 2010 that an efforts will be made to introduce GST in India from April 2011. This deadline was subsequently extended to April 2012. Ex- Finance Minister Mr. P. Chidambaram in his Budget Speech of 2013-14 while apologizing for the failure to meet the
April 2012 deadline announced further postponement of the same to April 2014.
Then after missing so many deadlines finally new government came into power in May 2014. The Constitution (One Hundred and Twenty Second Amendment)
Bill, 2014 was introduced in the Lok Sabha by Finance Minister Mr. Arun Jaitley on 19 December 2014. The Bill was passed by the House on 6 May 2015, receiving
352 votes for and 37 against. All no votes came from members of the AIADMK.
The Indian National Congress, which opposed the Bill, walked out of the House before voting began. Although the BJD and the CPI (M) had previously opposed the Bill, at the time of voting they cast their votes in favour. The Government attempted to move the Bill for consideration in the Rajya Sabha on 11 May
2015. However, members of opposition repeatedly stalled the proceedings of the House. In order to appease the opposition for further scrutiny of the Bill,
Jaitley moved a motion to refer the Bill to Select Committee.
We are going to have a dual GST model. The Center and the States both, will levy GST on supply of goods and

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