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ASTER BILLING What is the GST Bill? A bill is a draft of a proposed law presented to the Parliament for discussion. Once it is passed by the Parliament, it becomes an act. So GST Bill has now become GST Act. Are There Any Changes to the GST Act? The Model GST law was first drafted in June 2016 and later revised in November 2016. Lok Sabha has passed the 4 bills with certain amendments. Here is a list of the major changes proposed in GST bill: Applicability of GST Law in the State of Jammu and Kashmir J&K Finance Minister Haseeb Drabu has confirmed that J&K will apply GST. However, since J&K has a separate constitution and has special provisions regarding legislature, CGST & IGST will be passed separately. SGST will be passed separately, similar to the other states. Employer’s Gifts to Employee Will No Longer be Taxed under GST Earlier the supply of goods or services between related persons (made during the course of business) was treated as ...
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