Retailer fraternity is excited as the Lok Sabha gave a green signal on GST constitution Amendment Bill.
Retailer fraternity is excited as the Lok Sabha gave a green signal on GST constitution Amendment Bill. This bill aims to transform India into a common market, harmonising myriads of state and central levies into a national sales tax which is expected to boost manufacturing and reduce corruption.
Besides,The Rajya Sabha would now have to pass the bill, after which more than a half of India's states must approve it before the central and state governments would get equal powers to tax goods and services.
"The whole country, which is one-sixth of world's population, would become a single market and therefore it would give a necessary fillip as far as the trade is concerned," Finance Minister Arun Jaitley told lawmakers.
As per a news piece in Et Retail
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