The Lok Sabha has unanimously passed the 122nd Constitutional Amendment Bill as amended by the Rajya Sabha with all 443 members voting in favour and this will now be sent to state assemblies for approval after the President okays it. The Bill was passed by Lok Sabha on May 6, 2015 and transmitted to Rajya Sabha for concurrence. Rajya Sabha passed the Bill with amendments at its sitting held on the August 3, 2016 and returned it to Lok Sabha.
GST is a tax levied when a consumer buys a good or service. It is meant to be a single, comprehensive tax that will subsume all the other smaller indirect taxes on consumption like service tax, excise duty etc. This is how it is done in most developed countries. It will be a comprehensive nationwide indirect tax on the manufacture, sale, and consumption of goods and services. The aim is to have one indirect tax for the whole nation, which will make India a unified common market.
So let’s do:
1. Name the bill, which has unanimously passed the 122nd Constitutional Amendment Bill as amended by the Rajya Sabha with all 443 members voting in favour?
Source – The Hindu