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The committee submitted its report to the government in April 2008 and released its First Discussion Paper on GST in India in 2009. [2] Since the proposal involved reform/ restructuring of not only indirect taxes levied by the Central but also the States, the responsibility of preparing a Design and Road Map for the implementation of GST was ...
The tax rates, rules and regulations are governed by the GST Council which consists of the finance ministers of the central government and all the states. The GST is meant to replace a slew of indirect taxes with a federated tax and is therefore expected to reshape the country's $3.5 trillion economy, but its implementation has received criticism.
Direct tax in the form of an income tax was introduced by Sir James Wilson in India in 1860 to overcome the difficulties created by the Indian Rebellion of 1857. [12] The organisational history of the Income-tax Department, however, starts in the year 1922, when the Income-tax Act [4], 1922 gave, for the first time, a specific nomenclature to various Income-tax authorities.
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India has abolished multiple taxes with passage of time and imposed new ones. A few of these taxes include inheritance tax, [5] interest tax, gift tax, wealth tax, etc. Wealth Tax Act, 1957 was repealed in the year 2015. [6] Direct Taxes in India were governed by two major legislations, Income Tax Act, 1961 and Wealth Tax Act, 1957.
The Ninety-ninth Amendment of the Constitution of India, officially known as The Constitution (Ninety-ninth Amendment) Act, 2014, formed a National Judicial Appointments Commission. 16 State assemblies out of 29 States including Goa, Rajasthan, Tripura, Gujarat and Telangana ratified the Central Legislation, enabling the President of India to give assent to the bill.
The Constitution (One Hundred and Fourth Amendment) Act, 2019 Parliament of India Long title An Act further to amend the Constitution of India. Citation 104th Amendment Act of the Indian Constitution Territorial extent India Passed by Lok Sabha Passed 10 December 2019 Passed by Rajya Sabha Passed 12 December 2019 Assented to 21 January 2020 Commenced 25 January 2020 Legislative history First ...
The Act replaced the Land Acquisition Act, 1894 enacted during British rule. The Land Acquisition, Rehabilitation and Resettlement Bill, 2011 was introduced in Lok Sabha on 7 September 2011. [ 3 ] [ 4 ] The bill was then passed by it on 29 August 2013 and by the Rajya Sabha on 4 September 2013.