GST Journey so far, History of GST in India (Goods and Service Tax)

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GST Journey so far, History of GST in India (Goods and Service Tax)

GST Journey so far, History of GST in India (Goods and Service Tax). Check GST Journey from beginning to current time. The Empowered Committee of State Finance Ministers (‘Empowered Committee’) has been working with the Central Government to prepare a roadmap for introduction of GST in India. Dr. Amit Mitra, the Finance Minister of West Bengal, is the current Chairman of the Empowered Committee. After considering the comments of the Government and having detailed deliberations, the Empowered Committee released the First Discussion Paper on GST in November, 2009. Thereafter, the Task Force appointed by the Thirteenth Finance Commission, Government of India, issued a report on December 15, 2009 giving its recommendations on various issues relating to the design and implementation of the proposed GST in India. Department of Revenue also gave its comments on the First Discussion Paper in January, 2010. Now check more details for “GST Journey so far, History of GST in India” from below….

GST Rates Finalised, GST Rate Slabs 5%, 12%, 18% & 28%

GST Journey so far, History of GST in India

The significant documents issued by various authorities with respect to GST are enlisted below:

  • “A Model Roadmap for Goods and Services tax in India” by Empowered Committee of State Finance Ministers in April, 2008
  • GST Reforms and Intergovernmental Considerations in India” by Department of Economic Affairs, Ministry of Finance, Government of India in March, 2009
  • “First Discussion Paper on Goods and Services Tax In India” by Empowered Committee of State Finance Ministers in November, 2009
  • “Report of Task Force – 13th Finance Commission” by Task force set up by 13th Finance Commission in December, 2009
  • “Comments of Department of Revenue on First Discussion Paper” by Department of Revenue in January, 2010
  • “115th Constitution Amendment (GST) Bill, 2011” by Central Government in March, 2011
  • “Report on the 115th Constitution Amendment (GST) Bill, 2011” by Parliamentary Standing Committee on Finance in August, 2013
  • “122nd Constitution Amendment (GST) Bill, 2014” by Central Government in December, 2014 (as the earlier bill lapsed)
  • “Report on the 122nd Constitution Amendment (GST) Bill, 2014” by Select Committee of Rajya Sabha in July, 2015
  • “Report on the Revenue Neutral Rate and Structure of Rates for the Goods and Services Tax” by Committee headed by the Chief Economic Adviser Dr. Arvind Subramanian on Possible Tax Rates under GST in December, 2015
  • Reports of the Joint Committee on Business Process for GST on GST Payment Process, GST Registration, GST Refund and GST Return by Empowered Committee of State Finance Ministers in the year 2015
  • GST Bill Passed in Rajya Sabha on 3rd August 2016 (03-08-2016)
  • When GST is Applicable – Modi Government Want to applicable GST Bill From 1st July 2017, Due to Some Legal Problems GST Bill is not applicable before 1st July 2017.
  • In 2017 – Four GST related Bills become Act following President’s assent & passage in Parliament:
    • Central GST Bill
    • Integrated GST Bill
    • Union Territory GST Bill
    • GST (Compensation to States) Bill
  • In 2017 – GST Council finalizing the GST Rules and GST Rates
  • When GST is Applicable – Modi Government Want to applicable GST Bill From 1st July 2017, Due to Some Legal Problems GST Bill is not applicable before 1st July 2017.

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