Background:
The introduction of GST was a landmark achievement in cooperative feudalism envisaged under Constitution of India. The 101st Constitution Amendment Act, 2016 (‘Amendment Act’) effective from 16 September 2016 introduced new legislative scheme under Article 246A, a stark deviation from separation of taxing powers envisaged under Union and State list of Schedule VII of Constitution.
Parting Note:
The Supreme Court’s decision deems all proceedings initiated and notices issued basis the amendments made to the VAT Acts post 1 July 2017 to be void. This is a favorable judgment and provides relief to taxpayers at large.
Source: mondaq
Latest Posts in "India"
- 56th GST Council meeting is scheduled for September 3rd and 4th, 2025
- Eight States Demand GST Rate Cuts Be Tied to Revenue Guarantee and Consumer Benefits
- CII Urges Corporates to Transfer GST Rate Cut Benefits to Consumers Before Festive Season
- DGFT Extends Export Obligation Period, Boosting Indian Textile Exporters’ Competitiveness
- GST 2.0: New Two-Slab Tax Regime Announced, Healthcare and Essentials to Get Cheaper
