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India GST launch advances

  • GST
  • 1 April 2017 | Richard Asquith

India GST launch advances

The lower house of the Indian parliament (Lok Sabha) has approved this week 4 key bills for the implementation of a new Goods and Services Tax on 1 July.  The bills include:

  1. The Central GST Bill
  2. The Integrated GST Bill
  3. The Union Territory GST Bill
  4. The GST Compensation Bill.

A further law, the State GST Tax Bill will past through the local states’ assemblies.

The new indirect tax will introduce 4 rates of indirect tax (5%, 12%, 18% and 28%), replacing many overlapping and bureaucratic taxes including VAT and Service Tax.

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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.