Government likely to table GST Bill in the Parliament today

The finance ministry is likely to introduce the supplementary goods and services tax legislations in the Parliament on March 27, 2017. The GST legislations is likely to comprise laws regarding the C-GST, I-GST, UT-GST besides the compensation law. While, discussions upon the much sought after legislations is likely to take place on March 28, 2017.

The announcement of the Bill will also reveal the amendments in the excise and customs act regarding the abolishment of cess and furnishing Bills for export and import of goods in India.


The Bill is likely to get approval from the Lower House by March 30, 2017, further moving on to the Rajya Sabha, to incorporate the Upper House's amendments in the proposal.

Despite the legislations to be introduced as Money Bills, the government is most likely to have discussions on the cited subject in both the Houses before the completion of the Parliament session on April 12, 2017.

Post the clearance of the Bill by the Parliament, a State-GST (S-GST) Bill, on the lines of the Central-GST Bill will be taken to the respective state assemblies. The S-GST will comprise of state specific exemptions, while the Integrated GST (I-GST) will declare the cross-boundary transactions. The UT-Taxation consists of taxation regarding Union Territories. While, the compensation law will cover the state's losses, due to the imposition of taxation, till a period of 5 years. 

The bill is likely to roll out on July 1, 2017. However, the logistics stocks are already gaining over the news, with GATI valuing at Rs 144.15, up by 3.07 per cent. Whereas, VRL logistics is valuing at Rs 299 on the bourses, up by 0.23 per cent.