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of <h1>Finance Minister Introduces Four GST Bills in Lok Sabha, Sets Maximum Rate at 40%, Establishes Anti-Profiteering Authority.</h1> The Finance Minister introduced four GST bills in the Lok Sabha, setting a maximum GST rate of 40% and establishing an anti-profiteering authority. The Central Goods and Services Tax (CGST) bill consolidates various central levies, with actual rates structured at 5%, 12%, 18%, and 28%. The Union Territory GST Bill addresses taxation in union territories, while the Integrated-GST bill governs inter-state supplies. A Compensation Bill outlines revenue loss mechanisms for states. The GST rollout, expected by July 1, aims to unify India's tax system, with a potential GDP growth boost of up to 2%. Opposition parties protested the bill's introduction process.
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