Headline • After the UAE, Russia will now give PM Modi the highest civilian honor• India again surprised the world by testing the weapons of space• 17 years later, China felt a big blow economic situation is very weak• Supreme Court gives relief to cricketer Sreesanth in spot-fixing• Aamir Khan gave statement on Kangana Ranaut's resentment• No change in government stand on Article 35A• SP-BSP alliance in Madhya Pradesh and Uttarakhand• Arjun Kapoor and Abhishek Bachchan praise Akshay Kumar's trailer for the film Kesari• BJP government raises EPF interest rates• Uttarakhand Police urges Kashmiri students not to send inflammatory statements on social media• Kulbhushan Jadhav case starts hearing on Monday• Rajiv Saxena gets interim bail till Feb 22 • Vadra wrote on Facebook, handed Priyanka to the people of India, please keep them safe.• J&K : Attack on CRPF team, 7 security personnel and 4 civilians injured• State strike in Uttar Pradesh is illegal: Allahabad High Court• Mamata Banerjee declares victory on Supreme Court order in West Bengal• Tension in Meerut area after breaking Ambedkar statue• INDvsNZ : India won the series 4-1• I will leave politics even after Modi's retirement : Smriti Irani• Don Ravi Pujari arrested from African country Senegal• "I will be back soon" Union Minister Arun Jaitley• Report of the NSSO's unemployment, at the high level of 45 years• Modi government can give big gift to farmers• Akhilesh welcomes Priyanka Gandhi's political entry• Republic Day 2019 : India's power demonstration on Rajpath


 Finance Minister Arun Jaitley on Wednesday tabled the GST Bill in Lok Sabha as the crucial debate on landmark tax reforms legislation Goods and Services Tax bills began. 

Highlights:

* The GST bill is different because we are creating by law a jurisdiction simultaneously in the Centre and the state. In the process, handing over the indirect tax administration to the first federal institution that India has created, where the Centre and the state both will participate.

* 12 meetings of the GST Council were held to make it a process based on consensus and recommendations.

* It is a revolutionary bill which will benefit all.

* Current indirect tax regime being replaced by new mechanism under GST that will be run by new federal system.

* States have pooled in their sovereignty into the GST Council, and Centre has done the same.

* Need to maintain delicate balance of Centre, states in the GST Council

* Compensation under GST ensures that there is no additional burden, by keeping tax liability at existing level.

 

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