gst bill was passed in lok sabha on 8 august 2016.
gst bill was passed in lok sabha on 8 august 2016.
when was gst bill passed in lok sabha?
8 august 2016
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in the 2014 lok sabha election, the bharatiya janata party-led nda government was elected into power. with the consequential dissolution of the 15th lok sabha, the gst bill – approved by the standing committee for reintroduction – lapsed. seven months after the formation of the then modi government, the new finance minister arun jaitley introduced the gst bill in the lok sabha, where the bjp had a majority. in february 2015, jaitley set another deadline of 1 april 2017 to implement gst. in may 2016, the lok sabha passed the constitution amendment bill, paving way for gst. however, the opposition, led by the congress, demanded that the gst bill be again sent back for review to the select committee of the rajya sabha due to disagreements on several statements in the bill relating to taxation. finally in august 2016, the amendment bill was passed. over the next 15 to 20 days, 18 states ratified the constitution amendment bill and the president pranab mukherjee gave his assent to it.
goods and services tax (india)