GST - Introduction with important dates
Important Links www.gst.gov.in History GST was introduced by passing the Constitution (One hundred & first Amendment) Bill enactment following the passage of Constitution 122 Amendment Act Bill. GST is governed by a GST Council headed by Finance Minister Shri Arun Jaitley. France is the first Country to implement GST. Assam was the first state to unanimously ratify the GST. What is GST? GST is also an indirect tax, that is the service receiver/client who receives services or goods will bear the burden of taxes on goods and services rendered. GST takes over the numerous Central & State Taxes that were levied by the Central & State Governments. To Whom does GST apply? GST applies to all business, private, public, small & big. With the introduction of GST all the taxes which have been paid by different businesses like news, Cinema Halls, Stores, Exporters, Importers, etc have been consolidated into 3 different types of GST taxes to be paid to the govern...