1. FinMin uploads revised drafts of GST laws, to place before council next week

FinMin uploads revised drafts of GST laws, to place before council next week

The Centre today released the revised drafts of three Goods and Service Tax laws after taking suggestions from stakeholders.

By: | Published: November 26, 2016 4:41 PM
States will now deliberate on the revised drafts, which were finalised in a meeting of the Council's Law Sub-Committee. States will now deliberate on the revised drafts, which were finalised in a meeting of the Council’s Law Sub-Committee.

The Centre today released the revised drafts of three Goods and Service Tax laws after taking suggestions from stakeholders. These drafts will now be be placed before the Goods and Services Tax Council in its meeting on December 2 and 3.

“The revised drafts of the Model GST Law, iGST Law, GST Compensation Law have been uploaded on our website (Central Board of Excise and Customs). These laws will be considered by the GST Council on December 2-3 and finalised,” Revenue Secretary Hasmukh Adhia tweeted.


States will nowdeliberate on the revised drafts, which were finalised in a meeting of the Council’s Law Sub-Committee, comprising central and state officials yesterday in the capital, an IANS report has said.

The Central GST will be framed on the Model GST Law. The states will draft their state GST (sGST) based on the cGST with some changes.

Four draft bills, Central GST, State GST, Integrated GST and State Compensation Law for revenue losses, will be passed in the Parliament and Assemblies of every states after the Council’s clearance.

The Centre is targeting April 1 next year as the implementation date for the new indirect tax system.

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