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Constitutional Amendment Bill for GST introduced in Lok Sabha

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Dec 19,New Delhi: The Government has introduced Constitutional Amendment Bill for Goods & Services Tax (GST) in Lok Sabha.

"No state will loose a rupee. It will be a win-win situation for all," the Finance Minister Arun Jaitley said while introducing the bill on Friday

The Bill needs to be approved by a two-third majority of the house. After this, it needs to be endorsed by at least half of the State Assemblies (15). Then the Centre will introduce separate legislation for GST. States, too, will be required to bring in legislations

The Government intends to introduce GST from April 1, 2016.