GST breakthrough News

The landmark Goods and Services Tax (GST) bill passed by Parliament recently is a legislative accomplishment by Prime Minister Narendra Modi which even his harshest critics cannot  dismiss, a top US expert has said.

By abandoning confrontation and seeking consensus, PM Modi has pulled off his biggest reform yet, securing the unanimous support of both houses of parliament for a planned GST.

It took him more than two years, but Indian Prime Minister Narendra Modi has finally discovered the art of the deal.

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After facing fierce opposition over the Bill for almost a year, the government succeeded in bringing all major opposition parties, including Congress, on board and it was passed in the Upper House with an overwhelming majority on August 3.

Major tax reform--GST bill--will be taken up by Lok Sabha on Monday, with virtually all political parties backing this legislation.

The passage of GST Bill in the Rajya Sabha is "credit positive" for India's sovereign rating as the rollout of Goods and Services Tax regime will have a favourable impact on growth and tax revenues, Moody's Investors Service said on Friday.

Implementation of the GST law will make a negative impact on the under-construction properties with expected rise in its tax burden.

Hailing the passage of GST Bill in the Rajya Sabha, automobile makers on Thursday said it offers an "excellent opportunity" for rationalising the existing differential tax structure on vehicles based on physical dimensions and simplify taxation burden.

Setting a target of April 1, 2017 for rollout of the Goods and Services Tax, the government today unveiled a detailed roadmap for its implementation and said it is aiming for an "optimal" rate of taxation though the final decision will be taken by the GST Council.

As that nationwide system is constructed and brought online, tax administrators will also have to be retrained.

Have a look at the macro implications of GST, and some insight on the sectors and companies that will be the likely winners and losers from the reform.

Know how everybody -industry, businesses, government, consumers- will be benefitted from the Goods and Services Tax (GST).

A day after the upper house of Parliament unanimously passed the historic GST Bill, Finance Minister Arun Jaitley said that a very major step forward has been taken in direction of having a uniform tax in the country.

Here's the list of what may get cheaper and what may get dearer assuming the standard GST rate at 18 percent.

With Rajya Sabha approving the long-delayed GST bill, the Narendra Modi government will on Thursday announce the implementation roadmap for the national sales tax regime.

Hailing the passage of GST Bill in Rajya Sabha as an extremely progressive step, Walmart India said creating a single market in India for goods and services will boost the country's economy significantly, help retail sector in a big way.

Indian telecom and technology companies said passage of the GST Bill will facilitate ease of doing business and address ambiguities in the current indirect tax landscape, thus benefiting the economy.

Finance Minister Arun Jaitley and his predecessor P Chidambaram were engaged in friendly exchanges in the Rajya Sabha as the House discussed the historic Constitution Amendment Bill on GST.