Union Finance Minister Arun Jaitley has introduced Constitution Amendment Bill on Goods and Services Tax (GST) in Lok Sabha short while ago. The NDA government wants to get this GST effective from April 1, 2016 and has been pushing hard to get an approval from the Parliament. GST is the single most important tax system that can bring the entire country to a single market.

The Bill needs the support of two thirds of members of parliament as well as ratification by state legislatures which is expected to happen by the next session of parliament. Trinamool Congress party has backed the Constitution Amendment Bill of GST.  This tax system helps in avoiding taxation and over taxation.

- TVR