Constitution (122nd Amendment) Bill hasĀ  been introduced in the 16th Lok Sabha on 19.12.2014.

The Bill provides for a levy of GST on supply of all goods or services except for the specified goods.

The tax shall be levied as Dual GST separately but concurrently by the Union (CGST) and the States (SGST).

The Parliament would have exclusive power to levy GST (IGST) on inter-State trade or commerce (including imports) in goods or services.

The Central Government will have the power to levy excise duty in addition to the GST on tobacco and tobacco products.

A GST Council (GSTC) would be constituted comprising the Union Finance Minister, the Minister of State (Revenue) and the State Finance Ministers to recommend on the GST rate, exemption and thresholds, taxes to be subsumed and other features.

Decision in GSTC would be taken by a majority of not less than three-fourth of weighted votes cast.

Centre would have one-third weightage of the total votes cast and all the States taken together would have two-third of weightage of the total votes cast.

The Constitution Amendment Bill needs to be passed by a two-third majority in both Houses of Parliament and subsequent ratification by at least half of the State Legislatures.

The Bill has been passed by the Lok Sabha on 06.05.2015.

The Bill awaits passage in the Rajya Sabha.

After passage of the Bill by both Houses of Parliament, ratification by State legislatures and receipt of assent by the President, the process of enactment would be complete.

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