On 19 December 2014, India's Finance Ministry Arun Jaitley submitted a bill to parliament that includes the necessary constitutional amendments for the introduction of a national goods and services tax (GST). The key amendments include conferring powers to the country's federal and state governments to create GST legislation, and to create a GST council to advise on tax rates, threshold limits, and exemptions.
The bill also includes an overview of how GST would function:
- GST will be a desti…