Developments On GST Laws, Rules And FAQs

Presidential Assent to the GST Bills

With the assent of the President on 12 April 2017, the following Goods and Services Tax (GST) Bills have become Acts:

1. The GST (Compensation to States) Act, 2017
2. The Integrated GST Act, 2017
3. The Central GST Act, 2017
4. The Union Territory GST Act, 2017.

These Acts will be enforced from a date to be notified by the government in the future.

Action on State GST Law

The State of Telangana became the first State to introduce and pass the Telangana State Goods and Services Tax Bill, 2017 on 17 April 2017 during the special session of the state Legislative Assembly.

Release of Frequently Asked Questions (FAQs)

The Central Board of Excise and Customs (CBEC) released the second set of FAQs to assist various stakeholders in understanding the GST law and its nuances.¹