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GST council clears crucial CGST, IGST laws

GST council

New Delhi: Finance Minister Arun Jaitley on Saturday announced that the Goods and Service Tax (GST) Council has cleared the Central GST (CGST) and Integrated GST (IGST) laws.

The Centre wants to bring these bills in the second half of the Budget session that starts next week as it wants to stick to the July 1 deadline to rollout GST.

CGST, IGST and Union Territory-GST (UTGST) law to be taken to Parliament in the second half of Budget session starting March 9, said Jaitley.

The UTGST and SGST draft bills will be taken up for discussion and approval at the council’s next meeting on March 16, he added.

The SGST and UT-GST laws will be on the lines of CGST law, Jaitley said, added that the legal committee is giving finishing touch to drafts of these laws.

The SGST law will need to be approved by state assemblies, and its draft will soon be circulated among the states.

The CGST, IGST and UT-GST laws will be tabled in the Parliament during the second half of the Budget session, which begins on March 9, Jaitley added.

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