Lok Sabha passes GST Bill

The 122nd Constitution Amendment Bill was passed by the Lok Sabha on Wednesday. The Bill paves the way for Goods and Services Tax in India, after it has been made law.The Bill aims to tax both services and goods, with goods to be taxed by Centre and services to be taxed by States. GST will also subsume services tax, excise duties, stamp duties, entry tax and central sales tax.The government...