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Goods and Services Tax Bill

topics Updated: May 24, 2016 15:10 IST

The GST Bill, touted as one of the most ambitious tax reforms undertaken in the country, has been struck in Parliament with the opposition led by the Congress blocking its passage in the Rajya Sabha. The Bill, which proposes to introduce an uniform tax regime, has already been passed by the Lower House. The Congress has been demanding four changes in the current bill, including capping the GST rate at 18% and doing away with an additional 1% tax over and above the GST.