GST: A 17-year-old dream, 17 phases towards creating history - News Summed Up

GST: A 17-year-old dream, 17 phases towards creating history


In May 2007, an Empowered Committee of Finance Ministers (State Empowered Committee) was constituted to know the impact of GST on revenue of different states of India and implementation of GST. In 2017, the government introduced four types of GST bills, including Central GST, Integrated GST, GST Bill of Union Territories and GST Bill. On 22 September GST Council was formed. On September 23, 2016, GST Network was formed, it is an online network designed to solve the problems and questions of consumers and businessmen. On May 20, the GST Council fixed four rates of GST (5%, 12%, 18%, 24%).


Source: India Today June 29, 2017 16:41 UTC



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