Upper House (Rajya Sabha) has ultimately given a green signal to much awaited GST which was hanging fire ever since the days of Congress. A kind of single taxation system which would pave the way for India to open its doors to World markets. In other words Constitutional amendment has taken place. About dozen of taxes currently in vogue which are levied shall be replaced by GST.
1. It shall now go to the GST Council.
2. Shall be circulated to state governments to decide about the final rates of GST to be in placed.
3. One it gets the nod from the state it shall again come back its pros and cons shall be discussed in both houses of Parliament probably during the ensuing monsoon session.
During the day long discussion, AIDMK which was against the GST walked out. It has 11 - 13 members in the Upper House.
Once GST module is in place in letter n spirit.
Following sectors are most likely to benefit -
With all the best.