28th March, 2017
Finance Minister, Arun Jaitley, introduced four GST bills in the Lok Sabha on Monday morning. The Lok Sabha will discuss these bills tomorrow. With this, the GST bill and the process of implementation will enter its last phase, and its passage by the Parliament will mark the beginning of the biggest tax reform in the country since independence.
The four bills up for discussion relate to the creation of an anti-profiteering body, rules for arrest for tax evasion, and the cap for maximum tax rate at 40%.
As reported in Times Of India Business