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Introduction of Goods and Services Tax (GST) in India

The President of India approved the Constitution Amendment Bill for Goods and Services Tax (GST) on 8 September 2016, following the bills passage in the Indian parliament and its ratification by more than 50% of state legislatures. This law will replace all indirect taxes levied on goods and services by the central government and state government . The implementation of GST will have a far-reaching impact on almost all the aspects of the business operations in India.