The 122nd constitutional amendment bill was passed by Rajya Sabha on 3rd August 2016 and by Lok Sabha on 8th August 2016 and it got assent of the President in September 2016. As per Article 279A of the amended Constitution, the GST council was formed. GST council is process to finalizing rate of tax, exemption list etc. Central Government passed the GST Act and some stated also passed their respective state act. Target date for GST roll out is 1st July 2017.
GST is a major tax reform in India after independence. GST is going to be a reality after a long journey of twelve years. Main hurdle in the way of GST is already been crossed by passing of 122nd constitutional amendment bill. It is an ornament of Indian democracy, that despite of federal structure, different regional parties, political differences, and different priorities of states, dream of “One nation, One tax, One Market” is now going to be a reality. GST law in India is a matter of study for scholars.
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