The GST Bill is likely to come up again in the Lok Sabha for passage on the coming Monday. It was passed by the Rajya Sabha on wednesday. BJP has issued a whip to all its Lok Sabha MPs asking them to be present in the House on the day. After its passage in the Lok Sabha, the bill will need to be ratified by at least 50 per cent of the states Assemblies, to become a law.
The GST is aimed at bringing uniform tax regime in the country by subsuming state levies. Under it, a single rate of GST will replace Central Excise, State VAT, entertainment, entry and luxury taxes to ensure seamless transfer of goods and services.