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Cabinet gives nod to formation of GST Council

12 Sep, 2016 Print

 

The Union cabinet on Monday (September 12, 2016) granted its approval to formation, process and functioning of GST council just four days after President Pranab Mukherjee gave his consent to the Goods and Services tax bill, on September 8, 2016.

 

The GST council will be responsible for deciding various issues including the GST tax rate and how the new tax regime will function. The council will be headed by Union Finance Minister Arun Jaitley and members will comprise of state Finance Ministers.

 

The Union government is planning to implement GST from April 1, 2017 and is working on a tight schedule.

 

 


News Source : Indian Express

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