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Lok Sabha passes GST Bills. Here’s what will happen nexthttps://www.businessinsider.in/clusterstock/lok-sabha-passes-gst-bills-heres-what-will-happen-next/slidelist/57910248.cms2017-03-30T11:00:49+05:30

Lok Sabha passes GST Bills. Here’s what will happen next

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Mar 30, 2017, 11:00 IST

Here's what will happen next

Here's what will happen next — The four bills will be introduced as Money Bills in Rajya Sabha and the Upper House has limited powers when it comes to money bills. So, passage here should not be a problem

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Here's what will happen next

Here's what will happen next — The GST council, which comprises members from Centre and the states headed by Jaitley, will meet to discuss the detailed rules for single tax. They had finalised a four-tier tax structure of 5%, 12%, 18% and 28%, but the highest slab has been pegged in the law at 40%. Now, they will decide item-wise tax.

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Here's what will happen next

Here's what will happen next — GST Bill will be introduced in states and assemblies will have to pass it.

Here's what will happen next

Here's what will happen next — Indian Government is planning a slew of initiatives to make India ready for GST rollout from July 1 onwards. They are ensuring states are well-prepared with the GST regime and how to implement it.

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