GST Bills Pass in India’s Lower House

Sovos
March 30, 2017

The four bills that would implement the long-awaited Goods and Services Tax (GST) in India have taken their first step towards enactment, passing India’s lower house of parliament (the Lok Sabha) on March 29, 2017. The State of Jammu and Kashmir is notably excluded from the scope of one of the bills, the Integrated Goods and Services Tax (IGST) Bill, and will need to take special legislative steps to adopt IGST. The other bills passed on Wednesday were the Central Goods and Services Tax Bill, the Union Goods and Services Tax Bill, and the Goods and Services Tax (Compensation to States) Bill. Although the roll-out of GST was originally scheduled to take place on April 1, 2017, subsequent political entanglements required that it be delayed to July 1, 2017, a date on which the Indian Finance Minister is holding firm.

The post GST Bills Pass in India’s Lower House appeared first on Sovos.

Sign up for Email Updates

Stay up to date with the latest tax and compliance updates that may impact your business.

Author

Sovos

Sovos is a global provider of tax, compliance and trust solutions and services that enable businesses to navigate an increasingly regulated world with true confidence. Purpose-built for always-on compliance capabilities, our scalable IT-driven solutions meet the demands of an evolving and complex global regulatory landscape. Sovos’ cloud-based software platform provides an unparalleled level of integration with business applications and government compliance processes. More than 100,000 customers in 100+ countries – including half the Fortune 500 – trust Sovos for their compliance needs. Sovos annually processes more than three billion transactions across 19,000 global tax jurisdictions. Bolstered by a robust partner program more than 400 strong, Sovos brings to bear an unrivaled global network for companies across industries and geographies. Founded in 1979, Sovos has operations across the Americas and Europe, and is owned by Hg and TA Associates.
Share This Post