Rajya Sabha passes all four GST bills to pave way for rollout

The Rajya Sabha on Thursday passed four supplementary legislations which will enable the government to rollout the landmark Goods and Services Tax Bill on July 1. The Bills are related to Central GST, Integrated GST, UT GST and GST Compensation. The Central GST deals with taxation related to Centre, integrated GST deals in taxation of inter-state movement of goods and services while the Union Territory GST Bill covers taxation in Union Territories. The compensation law has been prepared to give a legislative backing to the Centre's promise to compensate the states for five years for any revenue loss arising out of GST implementation.