GST Hopes Brighten As Union Cabinet Amends Key Changes Bill
The much awaited GST bill has come one step closer to convert into law as the government on Wednesday made crucial amendments in the bill draft. The Cabinet has agreed on dropping 1 percent manufacturing tax and providing guarantee to compensate states for any revenue loss in the first five years of rollout of the proposed indirect tax regime. With states on board and the Cabinet approving the amendments, the government is hopeful of passage of the long-pending Goods and Services Tax (GST) Bill in the ongoing monsoon session of...