Friday Nov 15, 2024
Friday Nov 15, 2024
Thursday, 10 February 2022 01:40 - - {{hitsCtrl.values.hits}}
The parliamentary debate on the Special Goods and services Tax (GST) which was scheduled for today has been delayed with several petitions challenging it under consideration by the Supreme Court.
The Bill was listed for debate today, but Parliament has been informed nine petitions have been filed in the Supreme Court under Article 121(1) of the Constitution in relation to the Bill.
The Bill can be taken up for debate once the determination of the SC is sent to the Speaker.
The Special GST Bill is aimed at simplifying the existing tax structure and will be the new composite tax payable on a number of specified goods and services including liquor, cigarettes and vehicles (inclusive of parts for assembling of vehicles), telecommunications services, betting and gaming etc.
The rate of tax applicable, either ad valorem or specific, to the respective specified goods or services will be made by an Order of the Finance Minister and will come into immediate effect with parliamentary approval required within three months after such an order comes into effect.
