Goods and Service Tax bill passed in Rajya Sabha

The Goods and Service Tax bill was passed in the Rajya Sabha on Thursday. The move will now enable the rollout of four bills by July 1. Meanwhile, former Indian Prime Minister Manmohan Singh called it a historic move in the Rajya Sabha. The four Bills are the Central GST Bill, the Integrated GST Bill, the Compensation Bill and the UT GST Bill. Notably, the GST regime would absorb central excise, service tax, and other local levies.  

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