HISTORY OF GST

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Last Updated: September 28,2017 09:22 AM
Grab crystal clear History of GST in India now. Know the exact timeline on History of GST here. This page covers the entire History of GST implementation in India. Explore it with detailed events. Year wise, Date wise precise events on GST implementation in India is explained here.

Synopsis of “History of GST in India”:

GST Full Form Goods and Services Tax
Introduced as Act The Constitution (One Hundred and First Amendment) Act 2016
Constitutional Amendment Bill Constitution 122nd Amendment Bill, 2014
Idea of GST first raised during meeting in 1999 between Prime Minister Atal Bihari Vajpayee and three former RBI governors namely IG Patel, Bimal Jalan and C Rangarajan.
GST Bill First published in 16th Lok Sabha on December 19, 2014
GST Bill - Date Passed in Rajya Sabha 03 August 2016
Amended GST Bill was passed by the Lok Sabha on 8 August 2016
GST Bill received assent from President Pranab Mukherjee on 8 September 2016
Article Article 368 of the Constitution
First state which ratified the GST bill Assam (on 12 August 2016)
GST  introduced by Arun Jaitley
Chairman of GST Council Arun Jaitley
Lok Sabha and Rajya Sabha passed all the four key GST Bills (CGST, SGST, IGST, UTGST) on 27 March, 2017
GST came into force across India (except Jammu & Kashmir) on July 1, 2017
GST launched in Jammu and Kashmir on July 8, 2017
 

History of GST in India - Overview:

India's biggest tax reform in the 70 years of independence is implementation of GST (Goods and Services Tax), which will help modernise India as Asia's third largest economy. The 17-year-old dream of GST in India unify the US $2 trillion economy with 1.3 billion people into a single market.
 
Nationwide Goods and Services Tax (GST) has came into effect from 1 July, 2017. This is the marvelous way for a new Common National Market and replaced several cascading indirect taxes levied by the central and state governments.
 
World’s first country implemented GST is France (in the year 1954). More than 160 countries have implemented GST system. Framework of GST in India had formed 17 years ago. The first move on GST implementation in India was began on July 17, 2000, under Vajpayee Government. In 12 August 2016, Assam became the first state to pass GST. On September 23, 2016, GST Network was formed, it is an online network designed to solve the problems and questions of consumers and businessmen.

History of GST in India - Detailed Events:

The detailed events according to various timelines for GST implementation in India is granted below:

During 1999:

The idea of Goods and Services Tax (GST) in India started during meeting held in 1999 between Prime Minister Atal Bihari Vajpayee and his economic advisory panel, which included three former RBI governors namely IG Patel, Bimal Jalan and C Rangarajan.

During 2000:

On  July 17, 2000, Indian Government under Vajpayee leadership set up the Empowered Committee (EC) of State Finance Ministers to design a nationwide GST model.
 
This committee was headed by Asim Dasgupta (Finance Minister of West Bengal) and its members are State Finance Ministers of Karnataka, Madhya Pradesh, Maharashtra, Punjab, Uttar Pradesh, Gujarat, Delhi and Meghalaya. This committee which had formulated the design of State VAT (Value Added Tax) was requested to come up with a roadmap and structure for the GST with the following objectives:
  • To monitor the implementation of uniform floor rates of sales tax by States and Union Territories;
  • To monitor the phasing out of the sales-tax based incentive schemes;
  • To decide milestones and methods of States to switch over to VAT; and
  • To monitor reforms in the Central Sales Tax system existing in the country.

During 2003:

The Vajpayee led government formed a task force to recommend tax reforms. This task force was under Vijay Kelkar on the implementation of Fiscal Responsibility and Budget Management (FRBM) Act, 2013.

During 2004:

Vijay Kelkar recommends GST to replace the existing tax regime. Vajpayee headed BJP-led NDA government fell.

During 2006:

On 28 February, 2006, under Congress-led UPA government, new Finance Minister P Chidambaram continued work on the same. He proposed 1 April, 2010 as deadline for GST implementation throughout India.

During 2007:

on May 10, 2007, a Joint Working Group on GST was formed, which submitted its report to the Empowered Committee (EC) on November 19, 2007.

During 2008:

On April 2008, Empowered Committee (EC) finalised its view on GST, submitted a report titled “A model and roadmap for Goods and Services Tax (GST) in India”.

During 2009:

The Empowered Committee (EC) released its First Discussion Paper (FDP) on GST in November, 2009, based on discussions within and between it and the Central Government.

During 2010:

Finance Minister P Chidambaram had announced that GST will be implemented from April, 2011.

During 2011:

In the Lok Sabha, the 115th Constitution Amendment Bill was introduced for the levy of GST on all goods and services across India.

During 2012:

In 8th November, 2012, a ‘Committee on GST Design’ was constituted, with members as officials of the Government of India, State Governments and the Empowered Committee was.

During 2013:

In August 2013, Standing Committee submitted its report on GST. In November 2013, EC rejected Government’s proposal to include petroleum products under GST regime.

During 2014:

Under the leadership of Narendra Modi, the NDA government was re-elected into power. The new Finance Minister Arun Jaitley introduced the GST Bill (122th Constitution Amendment) in the Lok Sabha.

During 2015:

In February 2015, Jaitley set another deadline for GST implementation in India as 1 April 2016.

During 2016:

On August 3, 2016, Rajya Sabha passed the GST. In 12 August 2016, when Assam became the first state to pass GST.
 
On September 8, 2016, Hon’ble President of India gave his final assent for Constitution 122nd Amendment Bill, 2014. Constitutional 101st Amendment Act came into force which empowers both the States and Centre to levy this GST.
 
On September 23, 2016, GST Network was formed, it is an online network designed to solve the problems and questions of consumers and businessmen.

During 2017:

On 16 January, 2017, Jaitley announces 1 July, 2017 as GST rollout deadline.
 
On 20 March, 2017, Cabinet approved CGST, IGST and UT GST and Compensation bills.
 
On 27 March, 2017, Lok Sabha and Rajya Sabha pass all the four key GST Bills - Central GST (CGST), Integrated GST (IGST), State GST (SGST) and Union Territory GST (UTGST).
 
On 18 May, 2017, the GST Council fits over 1,200 goods in one of the four rates of GST (5%, 12%, 18%, 24%).
 
On 19 May, 2017, the GST Council decides on 5, 12, 18 and 28 percent as service tax slabs.
 
On 20 May, 2017, GST Council fixed four GST tax rates in India (5%, 12%, 18%, 24%) for all goods and services.
 
During Midnight of 30 June, 2017 -  GST came into force across India except Jammu & Kashmir.
 
During Midnight of 7 July, 2017 - Jammu and Kashmir, the only State missed to adopt the Goods and Services Tax (GST) on July 1, finally joined the GST regime.


About Goods and Services Tax Network (GSTN):

"Goods and Services Tax" Network (GSTN) is a non-profit organisation, set up by the Government as a private company under erstwhile Section 25 of the Companies Act, 1956.
 
The main purpose of GSTN is to create a website/platform for all the GST related concerned parties, namely stakeholders, government and taxpayers to collaborate on a single portal.
 
GSTN would provide three front end services, namely registration, payment and return to taxpayers. Besides providing these services to the taxpayers, GSTN would be developing back-end IT modules for 25 States.
 
Infosys is appointed as Managed Service Provider (MSP) at a total project cost of around Rs 1380 crores for a period of five years.
 
Goods and Services Tax Network (GSTN) has selected 34 IT, ITeS and financial technology companies, to be called GST Suvidha Providers (GSPs).

Taxes replaced by GST

GST would replace the following taxes which are levied and collected by the Central Government:
  • Central Excise Duty;
  • Duties of Excise (Medicinal and Toilet Preparations);
    Additional Duties of Excise (Goods of Special Importance);
  • Additional Duties of Excise (Textiles and Textile Products);
  • Additional Duties of Customs (commonly known as CVD);
  • Special Additional Duty of Customs(SAD);
  • Service Tax;
  • Cesses and surcharges insofar as they relate to supply of goods or services.
 
State Government taxes that would be subsumed within the GST are:
  • State VAT;
  • Central Sales Tax;
  • Purchase Tax;
  • Luxury Tax;
  • Entry Tax (Allforms);
  • Entertainment Tax (except those levied by the local bodies);
  • Taxes on advertisements;
  • Taxes on lotteries, betting and gambling;
  • State cesses and surcharges insofar as they relate to supply of goods or services.


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