{"id":59811,"date":"2016-08-04T09:56:59","date_gmt":"2016-08-04T04:26:59","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=59811"},"modified":"2016-09-13T15:03:16","modified_gmt":"2016-09-13T09:33:16","slug":"59811","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2016\/08\/04\/59811\/","title":{"rendered":"Rajya Sabha passes Constitution (122nd Amendment) (GST) Bill, 2014"},"content":{"rendered":"<p style=\"text-align: justify;\">Rajya Sabha passes long awaited Constitution (122nd Amendment) (GST) Bill, 2014.\u00a0Bill got 203 Ayes and 0 NIL. The Lok Sabha had already passed the Bill in May, 2015.<\/p>\n<p style=\"text-align: justify;\">Frequently asked questions relating to GST:<\/p>\n<p style=\"text-align: justify;\"><strong>Question 1.What is GST? How does it work?<\/strong><\/p>\n<p style=\"text-align: justify;\">GST is one indirect tax for the whole nation, which will make India one unified common market.<\/p>\n<p style=\"text-align: justify;\">GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages.<\/p>\n<p style=\"text-align: justify;\"><strong>Question 2. What are the benefits of GST?<\/strong><\/p>\n<p style=\"text-align: justify;\">The benefits of GST can be summarized as under:<\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>For business and industry<\/strong><\/li>\n<\/ul>\n<p style=\"text-align: justify;\">o\u00a0\u00a0 <u>Easy compliance<\/u>: A robust and comprehensive IT system would be the foundation of the GST regime in India. Therefore, all tax payer services such as registrations, returns, payments, etc. would be available to the taxpayers online, which would make compliance easy and transparent.<\/p>\n<p style=\"text-align: justify;\">o\u00a0\u00a0 <u>Uniformity of tax rates and structures<\/u>: GST will ensure that indirect tax rates and structures are common across the country, thereby increasing certainty and ease of doing business. In other words, GST would make doing business in the country tax neutral, irrespective of the choice of place of doing business.<\/p>\n<p style=\"text-align: justify;\">o\u00a0\u00a0 <u>Removal of cascading<\/u>: A system of seamless tax-credits throughout the value-chain, and across boundaries of States, would ensure that there is minimal cascading of taxes. This would reduce hidden costs of doing business.<\/p>\n<p style=\"text-align: justify;\">o\u00a0\u00a0 <u>Improved competitiveness:<\/u> Reduction in transaction costs of doing business would eventually lead to an improved competitiveness for the trade and industry.<\/p>\n<p style=\"text-align: justify;\">o\u00a0\u00a0 <u>Gain to manufacturers and exporters<\/u>: The subsuming of major Central and State taxes in GST, complete and comprehensive set-off of input goods and services and phasing out of Central Sales Tax (CST) would reduce the cost of locally manufactured goods and services. This will increase the competitiveness of Indian goods and services in the international market and give boost to Indian exports. The uniformity in tax rates and procedures across the country will also go a long way in reducing the compliance cost.<\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>For Central and State Governments<\/strong><\/li>\n<\/ul>\n<p style=\"text-align: justify;\">o\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <u>Simple and easy to administer<\/u>: Multiple indirect taxes at the Central and State levels are being replaced by GST. Backed with a robust end-to-end IT system, GST would be simpler and easier to administer than all other indirect taxes of the Centre and State levied so far.<\/p>\n<p style=\"text-align: justify;\">o\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <u>Better controls on leakage: <\/u>GST will result in better tax compliance due to a robust IT infrastructure. Due to the seamless transfer of input tax credit from one stage to another in the chain of value addition, there is an in-built mechanism in the design of GST that would incentivize tax compliance by traders.<\/p>\n<p style=\"text-align: justify;\">o\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <u>Higher revenue efficiency: <\/u>GST is expected to decrease the cost of collection of tax revenues of the Government, and will therefore, lead to higher revenue efficiency.<\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>For the consumer<\/strong><\/li>\n<\/ul>\n<p style=\"text-align: justify;\">o\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <u>Single and transparent tax proportionate to the value of goods and services: <\/u>Due to multiple indirect taxes being levied by the Centre and State, with incomplete or no input tax credits available at progressive stages of value addition, the cost of most goods and services in the country today are laden with many hidden taxes. Under GST, there would be only one tax from the manufacturer to the consumer, leading to transparency of taxes paid to the final consumer.<\/p>\n<p style=\"text-align: justify;\">o\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <u>Relief in overall tax burden:<\/u> Because of efficiency gains and prevention of leakages, the overall tax burden on most commodities will come down, which will benefit consumers.<\/p>\n<p style=\"text-align: justify;\"><strong>Question 3.\u00a0 Which taxes at the Centre and State level are being subsumed into GST?<\/strong><\/p>\n<p style=\"text-align: justify;\">At the Central level, the following taxes are being subsumed:<\/p>\n<ol style=\"text-align: justify;\">\n<li>Central Excise Duty,<\/li>\n<li>Additional Excise Duty,<\/li>\n<li>Service Tax,<\/li>\n<li>Additional Customs Duty commonly known as Countervailing Duty, and<\/li>\n<li>Special Additional Duty of Customs.<\/li>\n<\/ol>\n<p style=\"text-align: justify;\">At the State level, the following taxes are being subsumed:<\/p>\n<ol style=\"text-align: justify;\">\n<li>Subsuming of State Value Added Tax\/Sales Tax,<\/li>\n<li>Entertainment Tax (other than the tax levied by the local bodies), Central Sales Tax (levied by the Centre and collected by the States),<\/li>\n<li>Octroi and Entry tax,<\/li>\n<li>Purchase Tax,<\/li>\n<li>Luxury tax, and<\/li>\n<li>Taxes on lottery, betting and gambling.<\/li>\n<\/ol>\n<p style=\"text-align: justify;\"><strong>Question 4. \u00a0What are the major chronological events that have led to the introduction of GST?<\/strong><\/p>\n<p style=\"text-align: justify;\">GST is being introduced in the country after a 13 year long journey since it was first discussed in the report of the Kelkar Task Force on indirect taxes. A brief chronology outlining the major milestones on the proposal for introduction of GST in India is as follows:<\/p>\n<ol style=\"text-align: justify;\">\n<li>In 2003, the Kelkar Task Force on indirect tax had suggested a comprehensive Goods and Services Tax (GST) based on VAT principle.<\/li>\n<li>A proposal to introduce a National level Goods and Services Tax (GST) by April 1, 2010 was first mooted in the Budget Speech for the financial year 2006-07.<\/li>\n<li>Since the proposal involved reform\/ restructuring of not only indirect taxes levied by the Centre but also the States, the responsibility of preparing a Design and Road Map for the implementation of GST was assigned to the Empowered Committee of State Finance Ministers (EC).<\/li>\n<li>Based on inputs from Govt of India and States, the EC released its First Discussion Paper on Goods and Services Tax in India in November, 2009.<\/li>\n<li>In order to take the GST related work further, a Joint Working Group consisting of officers from Central as well as State Government was constituted in September, 2009.<\/li>\n<li>In order to amend the Constitution to enable introduction of GST, the Constitution (115th Amendment) Bill was introduced in the Lok Sabha in March 2011. As per the prescribed procedure, the Bill was referred to the Standing Committee on Finance of the Parliament for examination and report.<\/li>\n<li>Meanwhile, in pursuance of the decision taken in a meeting between the Union Finance Minister and the Empowered Committee of State Finance Ministers on 8th November, 2012, a \u2018Committee on GST Design\u2019, consisting of the officials of the Government of India, State Governments and the Empowered Committee was constituted.<\/li>\n<li>This Committee did a detailed discussion on GST design including the Constitution (115th) Amendment Bill and submitted its report in January, 2013. Based on this Report, the EC recommended certain changes in the Constitution Amendment Bill in their meeting at Bhubaneswar in January 2013.<\/li>\n<li>The Empowered Committee in the Bhubaneswar meeting also decided to constitute three committees of officers to discuss and report on various aspects of GST as follows:-<\/li>\n<\/ol>\n<p style=\"text-align: justify;\">(a)\u00a0\u00a0\u00a0\u00a0\u00a0 Committee on Place of Supply Rules and Revenue Neutral Rates;<\/p>\n<p style=\"text-align: justify;\">(b)\u00a0\u00a0\u00a0\u00a0\u00a0 Committee on dual control, threshold and exemptions;<\/p>\n<p style=\"text-align: justify;\">(c)\u00a0\u00a0\u00a0\u00a0\u00a0 Committee on IGST and GST on imports.<\/p>\n<ol style=\"text-align: justify;\">\n<li>The Parliamentary Standing Committee submitted its Report in August, 2013 to the Lok Sabha. The recommendations of the Empowered Committee and the recommendations of the Parliamentary Standing Committee were examined in the Ministry in consultation with the Legislative Department. Most of the recommendations made by the Empowered Committee and the Parliamentary Standing Committee were accepted and the draft Amendment Bill was suitably revised.<\/li>\n<li>The final draft Constitutional Amendment Bill incorporating the above stated changes were sent to the Empowered Committee for consideration in September 2013.<\/li>\n<li>The EC once again made certain recommendations on the Bill after its meeting in Shillong in November 2013. Certain recommendations of the Empowered Committee were incorporated in the draft Constitution (115th Amendment) Bill. The revised draft was sent for consideration of the Empowered Committee in March, 2014.<\/li>\n<li>The 115th Constitutional (Amendment) Bill, 2011, for the introduction of GST introduced in the Lok Sabha in March 2011 lapsed with the dissolution of the 15th Lok Sabha.<\/li>\n<li>In June 2014, the draft Constitution Amendment Bill was sent to the Empowered Committee after approval of the new Government.<\/li>\n<li>Based on a broad consensus reached with the Empowered Committee on the contours of the Bill, the Cabinet on 17.12.2014 approved the proposal for introduction of a Bill in the Parliament for amending the Constitution of India to facilitate the introduction of Goods and Services Tax (GST) in the country.\u00a0 The Bill was introduced in the Lok Sabha on 19.12.2014, and was passed by the Lok Sabha on 06.05.2015. It was then referred to the Select Committee of Rajya Sabha, which submitted its report on 22.07.2015.<\/li>\n<\/ol>\n<p style=\"text-align: right;\">Press Information Bureau<\/p>\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>Rajya Sabha passes long awaited Constitution (122nd Amendment) (GST) Bill, 2014.\u00a0Bill got 203 Ayes and 0 NIL. The Lok Sabha had already <\/p>\n","protected":false},"author":3,"featured_media":194173,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,13],"tags":[],"class_list":["post-59811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-statutes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Rajya Sabha passes Constitution (122nd Amendment) (GST) Bill, 2014 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2016\/08\/04\/59811\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rajya Sabha passes Constitution (122nd Amendment) (GST) Bill, 2014\" \/>\n<meta property=\"og:description\" content=\"Rajya Sabha passes long awaited Constitution (122nd Amendment) (GST) Bill, 2014.\u00a0Bill got 203 Ayes and 0 NIL. 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Sabha adjourned sine die | Bills passed in last 5 years","author":"Bhumika Indulia","date":"February 13, 2019","format":false,"excerpt":"Rajya Sabha passed a few path-breaking Bills positively impacting the socio-economic development of the country besides checking corruption and improving transparency. These include: 1. The Constitution (124th\u00a0Amendment) Bill,2019 providing 10% reservation for economically weaker sections; 2. The Constitution (122nd\u00a0Amendment) Bill, 2014 for introduction of GST and nine other related Bills;\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":67641,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/09\/08\/president-signs-the-gst-constitution-amendment\/","url_meta":{"origin":59811,"position":1},"title":"President signs the GST Constitution Amendment","author":"SM","date":"September 8, 2016","format":false,"excerpt":"NDTV has reported that the President has signed the 122nd Constitution Amendment Bill after it was passed by both houses of Parliament and ratified by 16 States. The 101st Constitution Amendment Act, 2016 lays the foundation for Parliament to enact the law on Goods and Services Tax.","rel":"","context":"In &quot;Business Law&quot;","block_context":{"text":"Business Law","link":"https:\/\/www.scconline.com\/blog\/post\/category\/Business_Law\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":49881,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/06\/01\/goods-and-services-tax-a-study\/","url_meta":{"origin":59811,"position":2},"title":"Goods and Services Tax: A study","author":"Sucheta","date":"June 1, 2016","format":false,"excerpt":"by Madhavi Singh","rel":"","context":"In &quot;Op Eds&quot;","block_context":{"text":"Op Eds","link":"https:\/\/www.scconline.com\/blog\/post\/category\/op-ed\/legal-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/06\/Madhvi-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/06\/Madhvi-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/06\/Madhvi-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/06\/Madhvi-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/06\/Madhvi-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":51521,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/06\/15\/good-and-service-tax-is-now-on-horizon-draft-gst-law-approved-by-empowered-committee\/","url_meta":{"origin":59811,"position":3},"title":"Good and Service Tax is now on Horizon &#8211; Draft GST Law approved by Empowered Committee","author":"Sucheta","date":"June 15, 2016","format":false,"excerpt":"The Government affirms determination to introduce Goods and Services Tax (GST) in the coming year to replace existing multiple taxes. A milestone is accomplished as the Empowered Committee of State Finance Ministers have in principle approved model GST law. The current political consensus appears to be favourable in Rajya Sabha\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":265044,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/04\/05\/gst-5\/","url_meta":{"origin":59811,"position":4},"title":"Examining the Inclusion of Petrol and Diesel in GST","author":"Editor","date":"April 5, 2022","format":false,"excerpt":"by Yash Jangid\u2020","rel":"","context":"In &quot;Op Eds&quot;","block_context":{"text":"Op Eds","link":"https:\/\/www.scconline.com\/blog\/post\/category\/op-ed\/legal-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/GST_Article.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/GST_Article.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/GST_Article.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/GST_Article.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/GST_Article.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":179004,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/29\/lok-sabha-passes-gst-compensation-states-amendment-bill\/","url_meta":{"origin":59811,"position":5},"title":"Lok Sabha passes GST (Compensation to States) Amendment Bill","author":"Saba","date":"December 29, 2017","format":false,"excerpt":"The Lok Sabha on Wednesday passed the GST (Compensation to States) Amendment Bill, 2017. The Bill will amend the Goods and Services Tax (Compensation to States) Act, 2017 that seeks to provide compensation to the States for the loss of revenue caused due to implementation of GST and will replace\u2026","rel":"","context":"In &quot;News&quot;","block_context":{"text":"News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/59811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=59811"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/59811\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/194173"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=59811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=59811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=59811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}