One of the biggest taxation reforms in India- Goods and Service Tax (GST) is ready to promote the integrated and holistic development of all state economies. GST will create a single, integrated Indian market to strengthen the economy. GST is scheduled to be implemented from 1st of April 2016. As we know that the Central Government has introduced the Goods and Services Tax (GST Amendment) bill in the Lok Sabha (Parliament). For many years, Goods and Services Tax has remained in the GST discussion. Once again, everyone interested in knowing how the government progresses on GST. After all, why the industry is pushing for it, what is GST and what is the advantage of it? Why is it coming to apply blockages? The central government introduced the constitution 122nd Amendment Bill (संशोधन) विधेयक) 2014 related to the item tax and service tax on 19th December 2014 in the Lok Sabha. The Constitution (122nd Amendment) Bill 2014 will include the new Article 246A, 269A, Article 279A and terminate Article 268A which was incorporated in the Constitution by the 88th Constitution Amendment Act, 2003. This Constitution amendment bill will end on entry 92 and 92C from the Union List given in the seventh schedule and entry 52 and 55 from the state list. The government has introduced this bill with the intention of establishing a similar system of indirect taxes. Apart from this, the amendment in Article 248, 249, 250, 268, 269, 270, 271, 286, 366, 368, 6th of the bill and entry of union list 84 and revision of entry 54 and 62 in the state list of seventh schedule to the constitution there is also a provision. ⇑®⇑ Goods and Services Tax (GST) ⇑®⇑The new system of Goods and Services (GST) will not cause any kind of revenue loss to the states, in fact, it will increase the revenue of the states in advance. It has to be passed by the Parliament with a two-thirds majority. At least it will be necessary to pass the assembly of 15 states. Article 246A (अनुच्छेद 246A)- The Legislature of each state can make a goods and service tax law provided that the law does not disregard any law passed by Parliament under Article 246A(2). Article 246A (2) [अनुच्छेद 246A (2)]- Only Parliament will have the right to make an item tax and service related law related to the supply of goods, or inter-state trade or commerce of services. Article 269A (अनुच्छेद 269A)- The GST that will be levied on the supply and services of goods in the context of inter-state trade will be collected only by the Central Government but on the recommendation of GST Council it is divided between the Union and the States in the manner prescribed by law. Article 279A (अनुच्छेद 279A)- This bill empowers the President of India to constitute the Council of Goods and Service Tax (GST) within sixty days of the commencement of the 122 Constitution Amendment Act 2014. ⇑®⇑ Main Provisions of GST Bill ⇑®⇑This bill provides for the creation of an object and service tax (GST) council to recommend on the incorporation and exclusion of goods and services.This union list (संघ सूची) and the statewide list of petroleum crude oil, high speed, diesel, motor spirit, natural gas, aviation turbine fuel and tobacco and brings tobacco products.It provides for additional tax up to one percent on the supply of goods in respect of the inter-state trade and provides for the union to collect it for a period of two years and then it will be divided into states.Excluding income from union territories, received from a supply of goods, the net income of the extra tax will not form part of India’s accumulated fund, and from where it has been acquired it will be divided into the same states.According to the law made by Parliament on the recommendation of the GST Council, it also provides for compensation for the states for the loss of revenue arising due to the implementation of GST for a period of five years.All central indirect taxes, cess (उपकर) and central sales tax in GST and State Value Added Tax (VAT) and Sales tax will be automatically included.The Constitution Amendment bill (संविधान संशोधन विधेयक) proposes the concept of goods declared under special importance under the Constitution.All goods and services are excluded from alcoholic beverages for human consumption under GST.As far as petroleum products are concerned, these items will not be subjected to GST unless a date/day notification in this regard is not recommended by the GST Council.The common man is going to get the most benefit of GST because then any items will be available at the same rate across the country, even if it is bought from any state. The first President and then Finance Minister Pranab Mukherjee, about the GST, had proposed in the 2006-07 budget. It is being believed that after the implementation of GST, the country’s growth rate will increase by one to one and a half percent. But there is some doubt about the GST that the system of GST is not fully prepared, so what will be the tax slab and who will compensate it if the loss is done. As well, many states have got the exemption that it will end by charging the tax. There is also concern about who will decide to increase or decrease the tax. The states got taxes exemption, will end. The user, here we provided all the details about Goods & Service Tax (सामान & सेवा कर) and the provisions of the bill. Thanks for visiting Indian Readers (India Largest Forum). For more details, kindly visit the official web portal of Central Board of Excise and Customs, Department of Revenue (Ministry of Finance) Government of India. The link is mentioned below.