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of <h1>Proposed Constitutional Amendment Introduces GST, Unifying Taxes and Establishing GST Council with Union and State Powers</h1> The proposed amendment to the Constitution aims to introduce the Goods and Services Tax (GST), granting concurrent taxing powers to both the Union and State governments. This tax will replace several indirect taxes, aiming to eliminate the cascading effect and create a unified national market. Key provisions include subsuming various central and state taxes, levying Integrated GST on interstate transactions, and compensating states for revenue loss for up to five years. A GST Council will be established to oversee tax-related issues, with decisions requiring a three-fourths majority. The Council's establishment will incur minimal additional expenses.
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