New Delhi : The most awaited GST, Goods and Services Tax Bill Passed in Rajya Sabha (Constitution 122nd amendment).
Indeed, even after Rajya Sabha’s agree to the pan-India Goods and Services tax regime, it might in any case take months before this major backhanded expense change is implemented, experts said, clarifying the steps ahead.
The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014, as passed by the Rajya Sabha, will first go to the Lok Sabha again, since the bill that had been passed by the lower house on May 6, 2015, underwent amendments to reach a political consensus. But this is seen as a mere formality.
Being a Constitution amendment that involves the states, at least 50 percent of them also have to ratify it. This is where the process could take long, since states could have their own set of issues and worries, which the Empowered Committee and the government would have to address. What will, nevertheless, help is that the BJP and its allies are in power in 13 out of 29 states.
Following a presidential consent, the amendment will take effect.