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In April, 2008, the EC submitted a report, titled "A Model and Road map for Goods and Services Tax (GST) in India" containing broad recommendations about the structure and design of GST. In response to the report, the Department of Revenue made some suggestions to be incorporated in the design and structure of proposed GST bill.
Pre-GST, the statutory tax rate for most goods was about 26.5%; post-GST, most goods are expected to be in the 18% tax range. The tax came into effect from 1 July 2017 through the implementation of the One Hundred and First Amendment to the Constitution of India by the Government of India. 1 July is celebrated as GST Day. [4]
The 52 items currently on the list are: [5] [6] 1. Criminal law, including all matters included in the Indian Penal Code at the commencement of this Constitution but excluding offences against laws with respect to any of the matters specified in List I or List II and excluding the use of naval, military or air forces or any other armed forces of the Union in aid of the civil power.
Part XII of constitution of India is a compilation of laws pertaining to Finance, Property, Contracts and Suits for Republic of India. Chapter I - Finance [ edit ]
The Indian Constitution is the most amended national constitution in the world. [3] The Constitution spells out governmental powers with so much detail that many matters addressed by statute in other democracies must be addressed via constitutional amendment in India. As a result, the Constitution is amended roughly twice a year.
Judicial review was adopted by the constitution of India from judicial review in the United States. [71] In the Indian constitution, judicial review is dealt with in Article 13. The constitution is the supreme power of the nation, and governs all laws. According to Article 13:
38. Reserve Bank of India. 39. Post Office Savings Bank. 40. Lotteries organised by the Government of India or the Government of a State. 41. Trade and commerce with foreign countries import and export across customs frontiers definition of customs frontiers. 42. Inter-State trade and commerce. 43.
The Australian Constitution followed the American pattern of single enumeration of powers. In Canada, on the other hand, there is a double enumeration—Federal and Provincial, and the residuary powers are vested in the Centre. The Government of India (GoI) Act of 1935 provided for a three-fold enumeration, viz., federal, provincial and concurrent.