<h1>India's 122nd Constitutional Amendment Introduces GST, Unifies Indirect Taxes, Establishes GST Council for Oversight and Recommendations.</h1> The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014, introduces the Goods and Services Tax (GST) in India, amending several articles of the Constitution to enable concurrent taxing powers for the Union and States. It establishes the GST Council to oversee the tax's implementation and make recommendations on rates, exemptions, and other parameters. The GST aims to unify various indirect taxes into a single tax, eliminating the cascading effect and promoting a unified national market. The amendment also provides for compensation to States for potential revenue losses due to the GST's implementation, extending up to five years.