New Delhi: The Goods and Services Tax ( GST) bill was cleared by Indian Parliament on Tuesday, after it got the Lok Sabha’s approval by 443 to nil votes.
This is the biggest indirect tax reform since India’s Independence and it is expected to change the way of trade and commerce in the country. Moreover, it will bring about a drastic change in the tax revenues of the States in the Indian Union.
Prime Minister Modi hailed the bill and thanked the Opposition for the unity in passing the bill.
However, BJP leader Subramanian Swamy raised doubts about the GST Bill. “I am confident Smart Cities will be a reality in 2018 but not sure if the future GST Act can survive in SC because of GSTN– a PC time bomb,” Swamy tweeted on Tuesday morning.
