https://www.taxtmi.com/article/detailed?id=7290 The GST Council cleared the draft GST Compensation Bill creating a mechanism to compensate States for revenue loss in the initial five-year transition; the Bill will go to Cabinet and then Parliament. The Council will next consider IGST, CGST and SGST laws after legal vetting addressed tribunal membership eligibility, delegation of powers, transition exemptions, treatment of work contracts, and the definition of agriculture. Allocation of items to GST rate slabs will be decided in a subsequent fitment exercise after the laws are enacted. en-us Wed, 22 Feb 2017 12:12:32 +0530 Wed, 22 Feb 2017 12:12:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7290 The GST Council cleared the draft GST Compensation Bill creating a mechanism to compensate States for revenue loss in the initial five-year transition; the Bill will go to Cabinet and then Parliament. The Council will next consider IGST, CGST and SGST laws after legal vetting addressed tribunal membership eligibility, delegation of powers, transition exemptions, treatment of work contracts, and the definition of agriculture. Allocation of items to GST rate slabs will be decided in a subsequent fitment exercise after the laws are enacted. Articles Goods and Services Tax - GST Wed, 22 Feb 2017 12:12:32 +0530 https://www.taxtmi.com/article/detailed?id=7290