Maintaining the tempo for the much-awaited Goods and Services Tax (GST) against the backdrop of the crucial Uttar Pradesh Assembly elections, sources in the Finance Ministry on Wednesday said the bill will be presented before the Cabinet on March 22.
The government, which is leaving no stone unturned to lose its sight on the biggest tax reform, has said the Central GST Law, Integrated GST Law, State GST Law and Union Territory GST and Compensation Law will be put together for the Cabinet’s approval on March 22.
However, the finance ministry added that it will table the CGST, IGST and Compensation Law before the Parliament on March 27.
The Finance Minister sources have also cleared the air on SGST and UTGST, which will be cleared in the GST Council meet scheduled on March 16.
Also, it is likely that a few more cesses including infra cess, oil industry development cess, and Swachh Bharat cess, amongst others, will be added in the kitty to boost resources to compensate states.
Earlier, the GST Council chaired by Finance Minister Arun Jaitley approved the draft CGST Bill and the draft IGST Bill as vetted by the Union Law Ministry. It cleared the deck for the Centre to take these two Bills to the Parliament for their passage in the ongoing Budget session.