1 year of GST: Timeline and everything else you want to know about biggest tax reform
New Delhi, June 1: As the Goods & Services Tax, touted as the biggest economic reform since independence, completes one year today, the government aims to take the monthly collection to Rs 1 lakh crore.
Goods and Services Tax (GST) was rolled out in the intervening night of June 30 and July 1, last year, in a ceremony held in the Central Hall of Parliament.
A timeline:
2000:
Prime
Minister
Atal
Bihari
Vajpyee
introduced
the
concept,
sets
up
a
committee
headed
by
the
then
West
Bengal
Finance
Minister
Asim
Dasgupta
to
design
a
GST
model.
2003:
The
Vajpayee
government
forms
a
task
force
under
Vijay
Kelkar
to
recommend
tax
reforms.
2004:
Vijay
Kelkar,
then
advisor
to
the
Finance
Ministry,
recommends
GST
to
replace
the
existing
tax
regime.
2006:
GST
appears
in
the
Budget
speech
for
the
first
time;
Finance
Minister
P
Chidambaram
sets
an
ambitious
April
1,
2010
as
deadline
for
GST
implementation.
He
says
the
Empowered
Committee
of
finance
ministers
will
prepare
a
road
map
for
GST.
2008:
Empowered
Committee
of
State
Finance
Ministers
constituted.
April
30,
2008:
The
Empowered
Committee
submits
a
report
titled
'A
Model
and
Roadmap
Goods
and
Services
Tax
(GST)
in
India' to
the
government.
November
10,
2009:
Empowered
Committee
submits
a
discussion
paper
in
the
public
domain
on
GST
welcoming
debate.
2009:
Finance
Minister
Pranab
Mukherjee
announces
basic
structure
of
GST
as
designed
by
Dasgupta
committee;
retains
2010
deadline.
BJP
opposes
GST
basic
structure.
February
2010:
Finance
Ministry
starts
mission-mode
computerisation
of
commercial
taxes
in
states,
to
lay
the
foundation
for
GST
rollout.
Pranab
Mukherjee
defers
GST
to
April
1,
2011.
March
22,
2011:
UPA-II
tables
115th
Constitution
Amendment
Bill
in
the
Lok
Sabha
for
bringing
GST.
March
29,
2011:
GST
Bill
referred
to
Parliamentary
Standing
Committee
on
Finance
led
by
Yashwant
Sinha.
November
2012:
Finance
Minister
P
Chidambaram
held
meetings
with
state
finance
ministers;
decides
to
resolve
all
issues
by
December
31,
2012
for
GST
rollout.
February
2013:
Declaring
UPA
government's
resolve
to
introducing
GST,
Chidambaram
in
his
Budget
speech
makes
provision
for
Rs
9,000
crore
to
compensate
states
for
losses
incurred
because
of
GST.
August
2013:
Parliamentary
standing
committee
submits
report
to
Parliament
suggesting
improvements
on
GST.
GST
Bill
gets
ready
for
introduction
in
Parliament.
October
2013:
Gujarat
Chief
Minister
Narendra
Modi
opposes
GST
Bill
saying
state
would
incur
losses
worth
Rs
14,000
crore
every
year
due
to
GST.
2014:
GST
Bill
cleared
by
Standing
Committee
lapses
as
Lok
Sabha
dissolves;
BJP-led
NDA
government
comes
to
power.
December
18,
2014:
Cabinet
approves
122nd
Constitution
Amendment
Bill
to
GST.
December
19,
2014:
Finance
Minister
Arun
Jaitley
introduces
the
Constitution
(122nd)
Amendment
Bill
in
the
Lok
Sabha;
Congress
objects.
February
2015:
Jaitley
sets
April
1,
2016
as
deadline
for
GST
rollout.
May
6,
2015:
Lok
Sabha
passes
GST
Constitutional
Amendment
Bill.
May
14,
2015:
The
GST
Bill
forwarded
to
joint
committee
of
Rajya
Sabha
and
Lok
Sabha.
August
2015:
Government
fails
to
win
the
support
of
Opposition
to
pass
the
bill
in
the
Rajya
Sabha
where
it
lacks
sufficient
numbers.
July
2016:
Centre
opposes
capping
GST
rate
at
18%;
gets
states
around.
August
2016:
Congress,
BJP
agree
to
pass
the
Constitution
Amendment
Bill.
August
3,
2016:
Rajya
Sabha
passes
the
Constitution
Amendment
Bill
by
two-thirds
majority.
September
2,
2016:
16
states
ratify
GST
Bill;
President
Pranab
Mukherjee
gives
assent
to
the
Bill.
September
12:
Union
Cabinet
clears
formation
of
GST
Council
September
22-23:
Council
meets
for
first
time.
November
3:
GST
Council
agrees
on
four
slab
tax
structure
of
5,
12,
18
and
28
%
along
with
an
additional
cess
on
luxury
and
sin
goods.
January
16,
2017:
Jaitley
announces
July
1
as
GST
rollout
deadline.
Centre,
states
agree
on
contentious
issue
of
dual
control
and
taxing
rights
on
goods
at
high
sea.
February
18:
GST
Council
finalises
draft
compensation
bill
providing
to
make
good
any
revenue
loss
to
states
in
first
five
years
of
GST
rollout.
March
4:
GST
Council
approves
CGST
and
Integrated-GST
bills.
March
27:
Jaitley
tables
CGST,
IGST,
UT
GST
and
Compensation
bills
in
Parliament.
Lok
Sabha
and
Rajya
Sabha
pass
all
the
four
key
GST
Bills
-
Central
GST
(CGST),
Integrated
GST
(IGST),
State
GST
(SGST)
and
Union
Territory
GST
(UTGST).
May
18:
GST
Council
fits
over
1,200
goods
in
one
of
the
four
tax
slabs
of
5,
12,
18
and
28
%.
Over
80%
of
goods
of
mass
consumption
either
exempted
or
taxed
under
5%
slab.
May
19:
GST
Council
decides
on
5,
12,
18
and
28%
as
service
tax
slabs.
Jun
21:
All
states
except
Jammu
and
Kashmir
pass
SGST
law.
June
30:
GST
launched
on
the
intervening
night
of
June
30
and
July
1.
(with agency inputs)